Crypto CEOs to Testify Before Lawmakers Weighing Regulation

Crypto CEOs to Testify Before Lawmakers Weighing Regulation

WASHINGTON—The chief executive officers of half a dozen cryptocurrency firms are set to appear before Congress on Wednesday, as lawmakers and regulators wrestle with how to bring the more than $2 trillion market under government oversight.



The House Financial Services Committee, led by



Rep. Maxine Waters

(D., Calif.), called the hearing in hopes of improving lawmakers’ understanding of crypto assets and how the sector fits into existing regulations.



The CEOs of stablecoin issuer Circle Internet Financial Ltd., crypto exchanges

Coinbase Global Inc.

and FTX Trading Ltd., bitcoin-mining firm Bitfury Group Ltd., cryptocurrency-payments system Stellar Development Foundation and blockchain firm Paxos Trust Co. are scheduled to testify from 10 a.m. ET.



In a memo announcing the hearing, Democratic staffers from the committee highlighted concerns about investor and consumer protections and market integrity arising from crypto.



























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The executives are expected to tout the potential upsides of crypto