The “Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets” hearing will come two months after senators met to discuss the collapse.
United States lawmakers with the Senate Banking Committee have listed another hearing exploring the impact of a crypto market crash.
In a Feb. 3 announcement, Senate Banking Committee Chair Sherrod Brown said senators would convene on Feb. 14 in a hearing named “ Crypto Crash Why Financial System Safeguards are Needed for Digital Assets. ” The hearing will come two months after lawmakers met and discussed the collapse of the crypto exchange in a Dec. 14 hearing.
As another hearing is scheduled for the Senate Banking Committee following the start of the 118th session of Congress, there will be some changes. Senator Brown will remain committee chair, but Senator Tim Scott will take over as ranking member following the departure of Pat Toomey. Scott included a crypto regulatory framework as one of his legislative priorities.
Committees in both the House and Senate set up hearings following filing for bankruptcy, impacting numerous retail investors in the United States. The House Financial Services Committee is also expected to hold another hearing sometime in 2023. At the time of publication, no hearing appeared on the committee schedule.
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Hollywood star Ben McKenzie, Shark Tank star and investor Kevin O’Leary, the Cato Institute’s Jennifer Schulp, and law professor Hilary Allen all testified in the December hearing. Former FTX CEO Sam Bankman- Fried had been scheduled to speak at the House Financial Services Committee hearing prior to his arrest in the Bahamas. It’s unclear who'll speak at the February hearing.
(TURNER WRIGHT, Cointelegraph, 2023)