Cryptocurrency Chiefs Go to Congress for Landmark Listening to

The chief executives of six cryptocurrency firms will testify on Wednesday earlier than the Home Monetary Providers Committee concerning the guarantees, perils and makes use of of stablecoins, or cryptocurrencies which can be pegged to the worth of secure belongings such because the greenback.

They embody Brian Brooks, the previous performing comptroller of the forex beneath President Donald J. Trump and now the chief govt of the blockchain expertise firm Bitfury Group; Sam Bankman-Fried, the chief of the crypto alternate FTX; Alesia Haas, the chief of Coinbase’s alternate in the US; and Jeremy Allaire, the chief of the funds firm

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Cryptocurrency executives to be questioned in Congress

Alesia Haas of Coinbase will likely be amongst witnesses

Executives of eight main cryptocurrency corporations have been known as to testify earlier than a US congressional committee on 8 December.

Witnesses known as to look embody Coinbase’s Alesia Haas, Circle’s Jeremy Allaire and Bitfury’s Brian Brooks.

It is going to be the primary time corporations representing the controversial sector have been questioned on this manner.

US politicians throughout the political spectrum have known as for extra scrutiny of crypto-currencies.

Elizabeth Warren on the left of the Democratic Celebration has known as for harder regulation of the sector and Donald Trump

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These 12 Crypto Lobbyists Need Congress to Embrace Blockchain

  • These lobbyists are weighing in on how lawmakers ought to regulate this rising expertise.
  • They are saying the difficult a part of their job is educating lawmakers on what cryptocurrency is. 
  • They’re additionally watching the infrastructure invoice, which might embody provisions on digital currencies.

Congress is changing into more and more curious about cryptocurrency, and lawmakers are weighing how greatest to control this rising market.

That is the place crypto-lobbyists are available in.

Cryptocurrency lobbying pursuits have collectively spent $2.4 million this yr, partially to rally in opposition to components of the bipartisan Senate infrastructure invoice, in line with the

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Breaking Down The Cryptocurrency Tax Proposals In Congress

Jordan Bass of the agency Taxing Cryptocurrency discusses the proposed cryptocurrency tax adjustments that Congress is contemplating and the way they might have an effect on taxpayers and the digital asset business.

This transcript has been edited for size and readability.

Marie Sapirie: Thanks, Jordan, for becoming a member of me at the moment to debate the quickly altering tax guidelines and specifically, the tax info reporting guidelines for digital property.

Jordan Bass: Thanks for having me. Trying ahead to having this dialogue.

Marie Sapirie: There are proposed legislative adjustments

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