Top executives from six major cryptocurrency companies including Coinbase and Circle this week urged Congress to provide clearer rules for the booming $3t industry, but warned that overly tough restrictions would push it overseas. The U.S. House of Representatives Financial Services Committee hearing marked the first time the industry's senior leaders have explained their businesses to U.S. lawmakers amid growing concerns cryptocurrencies may pose systemic risks and hurt investors.
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Crypto executives urge light touch as Congress mulls new regulation
"Without tailored legislative solutions that are openly debated with public participation, the United States risks unnecessarily onerous and chilling laws and regulations," warned Alesia Haas, chief executive of Coinbase Inc.
