A congressman from Texas defended crypto exchanges as the 'Babe Ruth' of financial services and said regulation would undo progress in the industry
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Leaders in the crypto industry are like baseball hall-of-famer Babe Ruth, according to Texas representative Roger Williams.
During a House Financial Services Committee hearing, Williams told the six crypto leaders who were testifying that they are paving a new path through the financial services sector, much like the so-called Great Bambino did with baseball in the early 1900s.
«Many of you are becoming the Babe Ruth in the financial space services space,» he told the panel, which included FTX Chief Executive Officer Sam Bankman-Fried and Coinbase CEO Alesia Jeanne Haas.
Williams, a Republican, wondered whether heavy regulation would stifle innovation in the digital asset space and what negative consequences could
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