Crypto Council for Innovation GC to testify at US Senate ‘crypto crash’ hearing

United States lawmakers with the Senate Banking Committee have announced three witnesses scheduled to appear before a hearing scheduled on Feb. 14.

At the time of publication, the U.S. Senate Banking Committee’s hearing titled ‘Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets’ had witnesses including Vanderbilt University law professor Yesha Yadav, Duke Financial Economics Center policy director Lee Reiners, and Linda Jeng, a lecturer at Georgetown University Law Center’s Institute for International Economic Law. The hearing will be one of the first in the 118th session of the U.S. Congress exploring the regulation of cryptocurrencies following a 2022 market crash and the collapse of major exchanges including FTX.

The crypto advocacy group Crypto Council for Innovation, or CCI, announced Jeng would become its chief global regulatory officer and general counsel in July 2022. She also previously worked in a similar role at the Circle- and Coinbase-founded Centre Consortium. According to a CCI spokesperson, Jeng will be testifying under her professorship rather than as a representative of the crypto advocacy group.

As a former regulator, I strongly believe in the important mission of regulators to protect consumers and ensure financial stability. But the recent wave of banking agency statements is worrying for the future of the US financial s…https://t.co/yCcKYoGL05 https://t.co/fcv3xoGtWq

— Linda Jeng (@LindaJeng1) February 3, 2023

U.S. lawmakers will be gathering to discuss events in the crypto space and potential regulatory solutions for the first time in two months following a hearing exploring the collapse of FTX. That Dec. 14 hearing featured testimony from Hollywood star and outspoken crypto critic Ben McKenzie, law professor Hilary Allen, Shark Tank star Kevin O’Leary and the Cato Institute’s Jennifer Schulp.

Related: Senate Banking Committee’s priorities for new Congress include crypto: Report

Former FTX CEO Sam Bankman-Fried was originally scheduled to appear at a House Financial Services Committee on Dec. 13, but he was arrested in the Bahamas before he could fulfill that promise. The exchange’s current CEO, John Ray, was the sole witness at the hearing, and later testified under oath at an FTX bankruptcy hearing on Feb. 6.

Cointelegraph reached out to the Crypto Council for Innovation and Linda Jeng, but did not receive a response at the time of publication.