US Congress Schedules ‘Crypto Demystification’ Committee Hearing for November 17

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The Joint Economic Committee, which includes Republican and Democratic members of the US House of Representatives and Senate, will hold a hearing on the government’s role in crypto.

According to the Joint Economic Committee’s or JEC’s schedule for next week, members of Congress will listen to industry experts at a hearing titled “Demystifying Crypto: Digital Assets and the Role of Government” on November 17. Representative Don Beyer – who has previously proposed legislation expanding the regulatory and legal framework for digital assets in the United States – will chair the hearing.

Industry experts expected to speak out include Alexis Goldstein, director of financial policy at the Open Markets Institute, Tim Massad, former chairman of the Commodity Futures Trading Commission, Kevin Werbach, director of the Blockchain and Digital Asset project at the Wharton School at the University of Pennsylvania, and Peter Van Valkenburgh, research director of Coin Center. . Lawmakers including Senator Rob Portman and Senator Ted Cruz, both of whom have previously spoken in favor of the regulation of crypto, are members of the JEC.

Related: House Committee Examines Cryptocurrency Risks and Settlements Under Hearing

Much of the discussion surrounding crypto regulation in the United States has taken place outside of House or Senate plenary sessions, often limited to meetings of the House Committee on Financial Services or the Senate Banking Committee. , housing and urban affairs. However, the issue took center stage in Congress in August, when debate over the wording of the current infrastructure bill included tax reporting requirements for crypto developers, transaction validators and operators of crypto. knots.

The bill has since passed both the House of Representatives and the Senate without further clarification on crypto brokers and is awaiting approval from President Joe Biden. The US president is expected to sign the bill on November 15.

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