The participants of the crypto money session of the US Congress, which will take place next week, have been announced. The names that will make statements before the date and the committee are as follows.
Members of Congress will oppose the Biden administration’s strict cryptocurrency practices
This week, the top cryptocurrency advocates in the US Congress took sides with the SEC statement that directly affects banks and financial institutions. Pro-crypto congressmen said in a letter to the SEC on Thursday that they were “concerned” about the Personnel Accounting Bulletin, known as SAB 121.
US regulators continue to debate how to regulate cryptocurrencies effectively, an issue that has become more pressing with the high-profile collapse of many major crypto platforms, including Celsius and FTX. Many investors lost money or their funds were frozen as the platforms tried to resolve their bankruptcy. Following that, central exchanges Bitgo and Coinbase, and officials from the U.S. Office of Currency Regulatory (OCC) prepare to discuss cryptocurrency regulations at the Digital Assets Subcommittee session next week.
US crypto session history and participants
Some of the names that will participate in the crypto money session, which will be held on Thursday, March 9 at 22:00, have been announced. Two senior executives from central exchanges Bitgo and Coinbase will be among the speakers. Among the attendees is Jonathan Gould, Former Assistant Auditor and General Counsel of the U.S. Office of the Currency Control (OCC). These names may change until the meeting date.
US lawmakers argue that SEC’s crypto policy is weakening custody services
Two lawmakers at the center of the US Congress’ ongoing efforts to regulate crypto are questioning government policies that control how financial companies handle cryptocurrency accounting.
US Representative Patrick McHenry (RN.C.), chair of the House Financial Services Committee, and Senator Cynthia Lummis (R-Wyo.), who writes on crypto legislation, sent letters to several banking institutions on Thursday asking how the regulations might be enforced. Crypto exchanges and platforms are grappling with a controversial bulletin from the SEC advising financial institutions that their customers should keep their cryptocurrencies on their balance sheets.
The letter from 2 US lawmakers questioned banking institutions what interactions they had with the SEC at this point and whether the securities regulator’s position contradicted their own policies. Last year, Fed Chairman Jerome Powell said the central bank was considering an SEC directive that changed the longstanding practice for cryptocurrencies to keep customers’ funds off a financial firm’s balance sheet. If we took place on Thursday, March 9, the US crypto currency session comes after the restrictive decisions surrounding Binance, which we have transferred as Kriptokoin.com.
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