Discussion on crypto and major tech firms combine in hearing over decentralization of digital ecosystem

Discussion on crypto and major tech firms combine in hearing over decentralization of digital ecosystem
© Reuters.

Blaine Luetkemeyer, a House representative from Missouri, revisited the issue of major companies exerting control over vast swaths of the internet, something he expressed concerns about encroaching in the crypto space.

Speaking at a Wednesday hearing on digital assets with The House Committee on Financial Services, Luetkemeyer addressed Bitfury CEO and former acting Comptroller of the Currency Brian Brooks in saying that major tech firms including Instagram, Facebook (NASDAQ:FB) — now Meta — and Twitter (NYSE:TWTR) “control people on their platforms.” Luetkemeyer asked whether this level of control could extend to undue influence for the rollout of a digital dollar.

Bitfurty CEO Brian Brooks addressing the House Committee on Financial Services on Dec. 8

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