In their bid to better understand the crypto industry and its operations, US lawmakers invited the chief executive officers (CEO) of some leading crypto exchanges to a major hearing tagged “Digital Assets and the Future of Finance: Understanding Innovation in the United State.”
Brian Brooks criticizes SEC
One of the invited executives was the pro-crypto former head of the United States Office of the Comptroller of Currency who is now the CEO of a leading crypto exchange, BitFury, Brian Brooks, who seized the opportunity to criticize the Securities and Exchange Commission (SEC) regulatory efforts of the industry.
According to the former top government official, the SEC, through its regulatory actions, has been pushing some crypto-related firms outside the shores of the United States. Brooks cited the example of Fidelity who recently moved its Bitcoin ETF product to Canada because the Gary Gensler-led commission refused to approve its application in the United States.
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