The top executives of eight major criptocurrencies firms, including Coinbase Global Inc, will testify before the U.S. House Financial Services Committee on December 8, the panel announced on Wednesday.
The hearing marks the first time that major players in the rapidly growing criptocurrency markets will testify before lawmakers as policymakers grapple with the implications of the new financial product and how to regulate it.
Senator Elizabeth Warren called for a regulatory crackdown on the volatile sector, as some progressives have become more skeptical of the risks and benefits of cryptocurrencies.
The committee announcement said that Alesia Haas, the CFO of Coinbase Global, will be among those who will be speaking at the hearing, which will focus on the challenges and benefits of financial innovation.
At the hearing will be Jeremy Allaire, CEO of Circle, Sam Bankman-Fried, CEO of FTX Trading, Chad Cascarilla, CEO of Paxos, and Dennelle Dixon, CEO of Stellar Development Foundation.
Previously, he was a top bank regulator under the Trump administration, and will be interviewed by Brian Brooks, the current CEO of Bitfury. Brooks, acting Comptroller of the Currency, pushed forward several policies aimed at making it easier for banks to engage withcryptocurrencies.