US forms new working group on cryptocurrencies

House Financial Services Committee chair Maxine Waters has formed a new working group on cryptocurrencies. The congresswoman announced this at a hearing on central bank digital currencies.

Waters expressed concern about the rise of digital assets:

“I have organized a working group of Democrats (members of the US Democratic Party) to engage with regulators and experts, to dive deeper into this poorly understood and minimally regulated industry.”

Earlier Waters repeatedly expressed concerns about the Diem Association (Libra Association). In June 2019 the congresswoman urged Facebook to halt development of the digital currency, and two months later unveiled a plan for its further study.

In 2020 Waters urged the Biden administration to roll back the decisions of the Office of the Comptroller of the Currency within the U.S. Department of the Treasury regarding cryptocurrencies and stablecoins.

Earlier, on June 9, Massachusetts Senator Elizabeth Warren described digital assets as \”a lousy investment\” and said they facilitate illicit activity.

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