U.S. House Financial Services Committee Democratic Ranking Member: Binance Hack Highlights Need for Stronger Regulation

TechFlow reported that on October 31, according to a statement on the official website of the U.S. House Financial Services Committee Democrats, the committee's Democratic Ranking Member Maxine Waters responded to the Binance hack, saying the security incident highlights the need for greater accountability in the crypto industry.

Waters criticized the deregulatory agenda advanced by Trump and congressional Republicans, arguing that it weakens compliance requirements and oversight for the crypto industry. She said that she and the committee's Democrats will continue to push for stronger consumer protections, stricter financial crime prevention and cybersecurity standards, and meaningful accountability in the crypto industry.

Source: TechFlow