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Congress announces hearing on crypto’s energy use and environmental impact

Congress is officially looking into the environmental impact of blockchain, especially proof-of-work networks like Bitcoin.  On January 13, the House Energy and Commerce Oversight Subcommittee publicized a hearing entitled “Cleaning up cryptocurrency: The energy impact of blockchains” for January 20, confirming The Block’s reporting from last week.  No witness list is yet available, and staffers for the subcommittee did not respond to The Block’s request for further details. The hearing follows on growing concern over the rise of the crypto …

What we learned at Congress’ much-anticipated summit of crypto execs

On Wednesday, Congress hosted a much-anticipated hearing with six senior executives from leading crypto firms.  Interest in the hearing was large enough that the House Financial Services Committee’s stream was initially in the five digits for viewership. As the hearing extended to nearly five hours, viewership declined. Nonetheless, it was a significant, public moment for the crypto industry.  “This is the first cryptocurrency hearing this committee has had in 13 years [since the Bitcoin whitepaper],” the committee’s leading Republican, Patrick …

What to expect at Wednesday’s hearing on crypto before Congress

Quick Take The House Financial Services Committee will hear testimony from executives from six major players in U.S. crypto tomorrow.  The Block takes a look at the significance of the hearing, as well as the committee’s priorities for crypto legislation.  This feature story is available to subscribers of The Block Daily. You can continue reading this Daily feature on The Block.

Congress to hold hearing with execs from Coinbase, FTX, Paxos and others

On December 1, Maxine Waters, who chairs the House Financial Services Committee, announced the witness list to a hearing on cryptocurrencies, which will be heavy on executives from leading U.S. crypto firms. Scheduled for December 8, the hearing is entitled “Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States.” The witnesses are CEOs from leading crypto firms: Circle’s Jeremy Allaire, FTX’s Sam Bankman-Fried, Bitfury’s Brian Brooks, Paxos’ Chad Cascarilla, Stellar’s …