US sets up working group on cryptocurrencies

June 16, 2021

US sets up working group on cryptocurrencies

US House of Representatives Financial Services Committee Chairwoman Maxine Waters has set up a new working group on cryptocurrencies. The congresswoman announced this at a hearing on central banks' digital currencies.

Waters expressed concern about the growth of digital assets:

"I have set up a working group of Democrats [US Democratic Party representatives] to engage with regulators and experts to delve deeper into this poorly understood and minimally regulated industry."

Waters has previously repeatedly expressed concerns about the Diem Association (Libra Association) project. In June 2019, the congresswoman demanded that Facebook suspend the development of the digital currency, and two months later presented a work plan to explore it further.

In 2020, Waters called on Joe Biden's administration to withdraw the decisions of the Office of the Comptroller of the Currency within the US Treasury regarding cryptocurrencies and Stablecoins.

Recall that on 9 June, Massachusetts US Senator Elizabeth Warren called digital assets a "lousy investment" and said they made it easier to conduct illegal activities.

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