US Legislators ask Crypto Firms to Give info on ‘Diversity & Inclusion’

US legislators have sent letters to 20 major crypto firms including, Binance.US, Coinbase, OpenSea Crypto.com to provide data on diversity and inclusion.
US Legislators ask Crypto Firms to Give info on 'Diversity & Inclusion'

Five legislators from the US House of Representatives have asked crypto firms to provide information on diversity and inclusion. Legislators have questioned the practices of US’s 20 largest firms dealing with cryptocurrencies, digital assets, Web3 and also prominent Venture Capital firms.

In a Thursday notice, House Financial Services Committee chair Maxine Waters and Representatives Joyce Beatty, Al Green, Bill Foster and Stephen Lynch wrote a letter asking US crypto firms to provide data on “how and whether the industry is working toward a more equitable environment for everyone.”

US legislators have sent letters to 20 major firms including, Binance.US, Coinbase, OpenSea, Crypto.com, FTX, Kraken, UniSwap and Tether as well as venture capital firms Andreessen Horowitz, Haun Ventures and Sequoia Capital.

Lawmakers have claimed that there is a lack of open information for assessing the diversity among US’ largest digital assets companies as well as investment firms with prominent investments made in these firms.

They stated, “We believe transparency is a critical, first step to achieving racial and gender equity.”

As per sample letter, the House representatives requested diversity and inclusion data and policies from the firms starting in January 2021. 

The letter suggests that reports from 2020 and 2021 drew a conclusion that ‘there is still much work to be done to increase diversity and inclusion’ in these industries.

The letter also urged that firms must complete a questionnaire regarding its diversity and inclusion data and policies from the calendar year of 2021 and responses must be sent by September. 2. 

Also Read: US Lawmakers urge Gov. Agencies to Demand Data from Crypto Miners

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