US Congress to hold ‘crypto crash’ hearing on Feb. 14

United States lawmakers with the Senate Banking Committee have scheduled a second listening to exploring the influence of a crypto market crash.

In a Feb. 3 announcement, Senate Banking Committee Chair Sherrod Brown stated senators would convene on Feb. 14 in a listening to titled “Crypto Crash: Why Monetary System Safeguards are Wanted for Digital Property.” The listening to will come two months after lawmakers met and mentioned the collapse of crypto trade FTX in a Dec. 14 listening to.

Because the second listening to is scheduled for the Senate Banking Committee following the beginning of the 118th session of Congress, there shall be some modifications. Senator Brown will stay committee chair, however Senator Tim Scott will take over as rating member following the departure of Pat Toomey. Scott included a crypto regulatory framework as certainly one of his legislative priorities.

Committees in each the Home and Senate arrange hearings following FTX’s submitting for chapter, impacting many retail traders in the USA. The Home Monetary Companies Committee can also be anticipated to carry a second listening to on FTX someday in 2023. On the time of publication, no listening to 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 legislation professor Hilary Allen all testified within the December listening to. Former FTX CEO Sam Bankman-Fried had been scheduled to talk on the Home Monetary Companies Committee listening to previous to his arrest within the Bahamas. It’s unclear who will communicate on the February listening to.

Cointelegraph reached out to Senator Sherrod Brown’s workplace, however didn’t obtain a response on the time of publication.