Feb. 9, 2022: Stealing Billions π΅ πΊπΈ π
US House Committee on Financial Services Stablecoin Hearing Mega Roundup
Big cryptocurrency heist in the news!
Yet that $4 billion isnβt even the biggest attempt at swiping money. The US House Committee on Financial Services reconvened yesterday in an attempt to give banks a major handout in the form of exclusive provenance over stablecoins, which could amount to a much larger form of theft.
Thankfully, the four hour ordeal ended up better than we could have hoped! Weβve got the full breakdown for each Congressperson and analysis below right now. Most of the individual Congresspersonsβ commentary has also been posted publicly, along with scores, at the PAC DAO website (the beneficiary of your subscriptions!)
If youβre looking to take action, remember that cryptocurrency is not just under assault from Congress. The SEC is trying to slip through some absurd rule changes, and if you participate in the letter writing campaign to stop this madness you can claim a free NFT on Ethereum or Polygon.