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Seeking Alpha 2021-12-02 16:34:35

Regulation can unlock the potential of cryptocurrencies, Paxos CEO says ahead of congressional hearing

Charles Cascarilla, co-founder and CEO of blockchain-based fintech Paxos, sees widespread support within the cryptocurrency community for additional regulation, which he thinks will open the door to broader uses of the asset class. "Everyone in the industry wants clarity, certainty and consistency in terms of regulatory parameters," he told CNBC. Cascarilla's comments came as he and a group of other crypto execs are set to appear before a congressional committee next week. The hearing, scheduled for Dec. 8, will also feature FTX (FTT-USD) CEO Sam Bankman-Fried and Alesia Haas, the CFO of Coinbase (NASDAQ:COIN), among others. Cascarilla predicted that the hearing will touch on the value of crypto and how the dollar should interact with digital currencies. The Paxos CEO said that working with lawmakers was an important part of the process, as a structured regulatory framework could unlock crypto's potential to make sweeping changes in the financial world. "This technology

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