US lawmakers with the Senate Banking Committee have announced three witnesses scheduled to appear before a hearing scheduled for February 14.
At press time, the US Senate Banking Committee hearing titled ‘Crypto Crash: Why Financial System Safeguards are Need for Digital Assets’ featured witnesses including Vanderbilt University law professor , Yesha Yadav, the director of policy at the Duke Center for Financial Economics, Lee Reiners, and Linda Jeng, a professor at the Institute of International Economic Law at the Georgetown University Law Center. The hearing will be one of the first in the 118th session of the US Congress exploring cryptocurrency regulation following a 2022 market crash and the collapse of major exchanges, including FTX.
Cryptocurrency advocacy group Crypto Council for Innovation, or CCI, announced that Jeng would become its director of global regulation and general counsel in July 2022. Previously, she also worked in a similar role at the Center Consortium, founded by Circle. and Coinbase. According to an ICC spokesperson, Jeng will testify under her chair rather than as a representative of the cryptocurrency advocacy group.
As a former regulator, I strongly believe in the important mission of regulators to protect consumers and ensure financial stability. But the recent wave of statements from banking agencies is worrisome for the future of the US financial system… https://t.co/yCcKYoGL05 https://t.co/fcv3xoGtWq
—Linda Jeng (@LindaJeng1) February 3, 2023
US lawmakers will meet to discuss events in the crypto space and potential regulatory solutions for the first time in two months following a hearing exploring the FTX collapse. That December 14 hearing featured testimony from Hollywood star and outspoken crypto critic Ben McKenzie, law professor Hilary Allen, Shark Tank star Kevin O’Leary and Jennifer Schulp of the Cato Institute.
Related: Senate Banking Committee Priorities For New Congress Include Crypto: Report
Former FTX CEO Sam Bankman-Fried was originally scheduled to appear before a House Financial Services Committee on December 13, but was arrested in the Bahamas before he could make good on that promise. The exchange’s current CEO, John Ray, was the only witness at the hearing and later testified under oath at an FTX bankruptcy hearing on February 6.
Cointelegraph reached out to the Crypto Council for Innovation and Linda Jeng, but did not receive a response at press time.
This post Crypto Council for Innovation GC to Testify at US Senate ‘Crypto Block’ Hearing
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