House And Senate Hearings On Stablecoins To Feature A Single Witness

House And Senate Hearings On Stablecoins To Feature A Single Witness

It’s been just revealed that the hearings on stablecoins before both the House and Senate in the next two weeks are scheduled to feature a single witness: The Treasury official spearheading recent work on stablecoins, sources tell The Block.

Buy Property with Cryptocurrency

As the online publication the Block Crypto notes, Nellie Liang, the Treasury’s undersecretary for domestic finance, is slated to appear before the House Financial Services Committee on February 8 and before the Senate Banking Committee will host Liang on February 15. This is according to four staffers and sources with knowledge of the matter.

It’s important to note the fact that in both cases, Liang is likely to be the sole witness, though sources indicate that the plan for the Senate hearing remains more malleable.

Neither committee has published their witness lists, as revealed by the publication that we mentioned above.

The Financial Services Committee only includes the hearing title: “Digital Assets and the Future of Finance: The President’s Working Group on Financial Markets’ Report on Stablecoins.”

We suggest that you check out the complete original article in order to learn more available details.

CBDCs and stablecoins can coexist

There are various bullish moves that are taking place in the crypto space as the crypto market is struggling to recover following recent corrections in price.

It’s been recently revealed that the Federal Reserve Chairman Jerome Powell appeared before lawmakers on Tuesday to defend his position as head of the central bank.

What’s next for monetary policy?

He also made sure to answer questions about what is next for monetary policy as inflation rages on.

As Blockworks notes, following a series of remarks about central bank digital currencies (CBDCs) and a Fed digital dollar, Powell announced during his confirmation hearing Tuesday that crypto industry members and lawmakers can expect a report on digital currencies in the coming weeks.

Stay tuned for more news.


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