The “Financial Services Committee” meeting, which has been waiting for a while by the crypto money world, started at 18.00 Turkey time. While important names of the crypto money world attended the meeting, congressmen frequently asked questions about “hacking, fraud and stablecoins”.
The meeting of the US Congress Financial Services Commission, which hosted the CEOs of six leading crypto companies in the crypto world, was held today. In the session, which took place in the chair of congress member Maxine Waters, congressmen asked executives many questions, especially regarding the security of cryptocurrencies.
At the meeting, congressmen were allowed to ask questions and get answers for five minutes, and the meeting generally proceeded quite calmly.
Experience Featured!
With the start of the meeting, Sam Bankman-Fried, the founder of the FTX stock market, who was also on the list of the richest people in the world, was very excited, however, Brian Brooks, who also chaired the government agency OCC and is now the CEO of Bitfury, was very calm and calm due to his experience. He looked confident.
Criticism of Offering Bitcoin ETF in Canada!
Brian Brooks, although quite calm and confident, sharply criticized the SEC’s failure to approve the spot ETF, adding:
“Americans should know what the national policy is on Web 3.0 and decentralized exchanges (DeFi). There’s no point in wasting our time discussing which token is a security and which isn’t today.
We need to focus primarily on macro questions.
- Do we want a user-controlled internet, or an internet run by five companies?
- Do we trust banks more today or open source software?
- Can someone please explain to me why an important company like Fidelity had to go to Canada to offer a Bitcoin ETF?”
Congressman Criticizes Cryptocurrencies!
Congressman Brad Sherman, who is known to be not good with cryptocurrencies, criticized cryptocurrencies, and the participants both laughed and reacted to this speech. Sherman noted that cryptocurrencies are a competitor to the US dollar and are likely to displace it. Sherman also drew attention to coins created with ‘animal names’. He criticized Coinbase CEO Brian Armstrong and Tether company executives who did not attend the meeting.
“People who defend cryptocurrencies are people who stand with the strong in society and represent power. The powerful in Washington and on Wall Street invest millions of dollars in cryptocurrencies and try to make billions. These; Goldman Sachs, JP Morgan, BlackRock, Musk and Zuckerberg.”
The member also tried to make a suggestive reference by saying that Ethereum could replace Bitcoin and even Dogecoin could replace Ethereum.