House Financial Services Committee Gearing Up For a Busy Crypto September

News just broke about the tentative House Financial Services Committee schedule for when Members return in September and boy is it busy! There are two hearings in particular that are supposedly on the books at the moment that the crypto industry will be paying close attention to.

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The first hearing expected to be on September 14th is a House Financial Services Subcommittee on Digital Assets hearing on Central Bank Digital Currency. Since it has not been officially announced we do not know what type of hearing it is expected to be or what the purpose of it is. Based on what I know from being on The Hill though it is likely it will be an informative hearing for Members. This means that there isn't going to be legislation brought up and discussed rather Members will ask questions and listen to testimony on what a CBDC would do, how it would function, etc.

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On September 27th the Committee will have SEC Chair, Gary Gensler testifying. Now, I cannot wait to see it because of the fireworks it is practically guaranteed to cause. The Committee, including the Chair and Members on both sides, have been extremely outspoken against what the SEC is doing in the crypto space. I would expect nothing less than a complete grilling of Gensler after his failed Ripple case and continued handling of the crypto space.

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One final thing to note because it has been whispered about but nothing has come to fruition is there could also be an FTX hearing added to the month. I assume that is contingent on being able to get FTX's CEO to appear and possibly some other individuals who would update the Committee on what the current situation is in regard to the bankruptcy. If it does not happen in September I can easily see it being added to October as FTX remains a big topic on The Hill.