The democratic lawmakers of the US have now demanded the country’s crypto firms to disclose all the data in relation to their diversity practices.
According to the reports, the US Representatives administered by House Financial Services Committee Chairwoman Maxine Waters has issued a letter to 20 largest firms connected with crypto, Web3 and digital assets companies.
These big companies include, aave
aave [email protected] Lending & BorrowingDeFi 
Followers : 0 View profile , Andreessen Horowitz, binance 
binance Centralised Exchange 
Followers : 0 View profile .US, , coinbase 
coinbase [email protected] Centralised Exchange 
Followers : 0 View profile , Crypto.com, Digital Currency Group, , gemini 
gemini Crypto / Blockchain SolutionCentralised Exchange Followers : 0 View profile , Haun Ventures, kraken 
kraken a****[email protected] Centralised Exchange Followers : 0 View profile , opensea 
opensea NFT Market Place Followers : 0 View profile , pancakeswap 
pancakeswap Decentralised Exchange 
Followers : 0 View profile , Paradigm, , ripple 
ripple m***[email protected] Crypto / Blockchain SolutionPayment solution Followers : 0 View profile , Sequoia Capital, Stellar Development Foundation, Tether, and uniswap 
uniswap [email protected] Decentralised Exchange Followers : 0 View profile
Lawmakers Issue Questionnaire
The reason behind demand for the letter is that lawmakers will use this letter to understand how the companies are working towards creating an unbiased environment for everyone. The letter was basically a questionnaire regarding the various practices that the companies are practicing.
However, the reports state that the questionnaire wasn’t made public. According to the letter, alarmingly, there is a shortage of information that is readily available to the general public for assessing the diversity of America’s major digital assets businesses and the investment firms that have major stakes in these firms.
The letter also mentions that the companies have just four weeks of time to respond to the questionnaire as the said date is on or before September 2nd.
As known, the information regarding cryptocurrencies are very limited and now the lawmakers are attempting to change this scenario. Even regulators are eager to understand what is it going on with investors?
Till today, the questions related to crypto didn’t have much information as it just consisted of what they sold, received, or exchanged any digital currencies.
A further development states that the SEC is currently looking into every US cryptocurrency exchange, including Binance, according to a spokesperson for Senator Lummis. It is already a widely known reality that Coinbase is being looked into by the regulatory authority.
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