The US House Financial Services Committee is holding two hearings aimed at bringing clarity to digital asset regulations as US-based crypto firms consider moving offshore amid a regulatory crackdown and banking crisis. The committee has criticised SEC Chair Gary Gensler's action against crypto as "contradictory" and lacking details on which crypto assets are securities. The hearings will focus on the "regulatory gaps" in digital asset markets. The House Financial Institutions and Monetary Policy Subcommittee has also scheduled a hearing on federal responses to recent bank failures. Banking shares continue to fall, with PacWest Bancorp plunging 52% on Wednesday. (coingape)
US House Expedites Hearings On Crypto Regulations and Banking Failures
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