'Were they just asleep at the wheel?' Senators rail against regulators in latest crypto hearing

The latest crypto hearing on Capitol Hill saw Senators again rail against regulators and call for more action to protect Americans from failures in the digital asset space.

• 2023-02-15
• Sherrod Brown Sen. Elizabeth Warren Digital assets Tim Scott industry firms earned money Futures Trading Commission federal agencies

Crypto Slammed in Senate Hearing

Today's hearing came days after the Securities and Exchange Commission's (SEC) $30 million settlement with Kraken and New York Department of Financial Services' (NYDFS) order that crypto platform Paxos stop minting Binance USD (BUSD), a stablecoin pegged to the value of the U.S. dollar. One reason rule-making for cryptocurrencies has proved challenging: They don't exist within a clear regulatory bucket. Whether cryptocurrencies are securities, and therefore should be regulated by the SEC, is a

• 2023-02-15
• Sherrod Brown Senate Banking Committee digital assets Capitol Hill cryptocurrency Lee Reiners SEC