CEOs of leading US banks attended a congressional session today. The bosses of big banks also gave statements about the crypto industry. Banks, cryptocurrency does not intend to finance the mining sector.
Citigroup, Bank of America and Wells Fargo CEOs of leading banks, including, met with the Assembly Financial Services committee at the congress. During the call, congressional representative Brad Sherman asked the CEOs of the three largest banks about the crypto industry.
Sherman asked CEOs the following question about crypto mining:
“Are you considering financing crypto mining firms? The electricity consumed by the miners does not turn on anyone’s light, nor does it heat anyone’s food.”
Citigroup CEO Jane Fraser was the first to answer the sarcastic question the representative asked about crypto mining. Fraser said that Citibank is “not considering” financing crypto miners.
Bank of America CEO Brian Moynihan explained that they did not make any plans in this regard, while Wells Fargo CEO Charles Scharf stated that he was not very aware of the issue.
Committee representative Sherman reiterated his critical view on cryptocurrencies following the responses. Sherman stated that crypto exchanges should be strictly regulated, and that he wishes to ban cryptocurrencies if necessary.
Why Is The USA Going Over Cryptocurrencies?
Cryptocurrencies are a big problem not only for the USA, but for all the states of the world. Due to the decentralization of cryptocurrencies and blockchain technology, there is no way for governments to fully control this industry.
Countries like China prefer to restrict citizens by directly banning cryptocurrencies. But more democratic countries like the USA; It is trying to criminalize the crypto money industry by using issues such as energy use and climate change.
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