U.S. markets closed
  • S&P Futures

    4,396.75
    +12.75 (+0.29%)
     
  • Dow Futures

    34,248.00
    +119.00 (+0.35%)
     
  • Nasdaq Futures

    15,203.25
    +39.75 (+0.26%)
     
  • Russell 2000 Futures

    2,224.20
    +9.30 (+0.42%)
     
  • Crude Oil

    72.33
    +0.10 (+0.14%)
     
  • Gold

    1,762.10
    -16.70 (-0.94%)
     
  • Silver

    22.55
    -0.36 (-1.58%)
     
  • EUR/USD

    1.1696
    0.0000 (-0.00%)
     
  • 10-Yr Bond

    1.3360
    +0.0120 (+0.91%)
     
  • Vix

    20.87
    -3.49 (-14.33%)
     
  • GBP/USD

    1.3623
    +0.0004 (+0.03%)
     
  • USD/JPY

    109.8900
    +0.1120 (+0.10%)
     
  • BTC-USD

    43,624.86
    +1,551.89 (+3.69%)
     
  • CMC Crypto 200

    1,095.44
    +54.95 (+5.28%)
     
  • FTSE 100

    7,083.37
    +102.39 (+1.47%)
     
  • Nikkei 225

    29,639.40
    -200.31 (-0.67%)
     

House Democrats Form Cryptocurrency Working Group

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

U.S. Rep. Maxine Waters (D-Calif.) announced in a virtual hearing with the FinTech Task Force discussing central bank digital currencies (CBDDs) that she is forming a group of Democratic House members to tackle growing concerns about cryptocurrency.

Waters, chairwoman of the House Financial Services Committee, said the group will work “to engage with regulators and experts to do a deep dive on this poorly understood and minimally regulated industry.”

In a hearing last week, Sen. Elizabeth Warren (D-Mass.) echoed a similar sentiment toward the crypto industry, referring to it as a “Wild West” in need of regulation.

Related: State of Crypto: Congressional Hearings Are Ramping Up

Pressure for regulation comes on the heels of demand for a central bank digital currency backed by the Federal Reserve, which Warren said would “drive out bogus digital private money.”

Waters has long been critical of cryptocurrency and its unregulated nature, and last month’s cyberattacks against Colonial Pipeline, which paid a ransom in bitcoin, sparked new discussions about regulating crypto.

Related Stories