US Senate Banking Committee to Hold ‘Crypto Crash’ Hearing This Month

The crypto industry’s 2022 dramas will again fall under the U.S. Senate’s microscope this month when the Senate Banking Committee holds a Feb. 14 hearing to examine financial system protections from the dangers seen in digital assets.

The panel is calling the Valentine’s Day hearing “Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets,” according to a hearing schedule released Friday, and its position as one of the first issues to be addressed by the lawmakers demonstrates the urgency of crypto issues in Congress.

Chairman Sherrod Brown (D-Ohio) indicated in a November letter to Treasury Secretary Janet Yellen that he wants to begin a serious effort toward U.S. government oversight of crypto, and the committee’s new ranking Republican, Sen. Tim Scott (R-S.C.) said in a statement on Thursday that the members “should work to facilitate a bipartisan regulatory framework.”