U.S. lawmakers ask crypto companies to provide information on diversity and inclusion

Five lawmakers from the U.S. House of Representatives have asked for data on the diversity and inclusion practices of 20 major companies dealing with cryptocurrencies and Web3.

In Thursday’s notice, House Financial Services Committee Chair Maxine Waters, along with Rep. Joyce Beatty, Al Green, Bill Foster and Stephen Lynch pen A letter asking to be stationed in the United States crypto company Provides information on “how and if the industry is working towards a more equitable environment for everyone”.Lawmakers sent letters to 20 companies, including Aave, Binance.US, Coinbase, Crypto.com, FTX, Kraken, Paxos, Ripple, and Tether, as well as VC firm Andreessen HorowitzHorne Ventures and Sequoia Capital.

“It is concerning that there is a lack of publicly available data to effectively assess the diversity among the largest U.S. digital asset companies and the investment firms that have made significant investments in these companies,” the lawmakers said. “We believe transparency is a critical first step in achieving racial and gender equality.”

Representatives of the House of Representatives, according to a sample letter ask diversity and Incorporate data and policies Survey of 20 companies from January 2021. The investigation appears to be in response to investigations by the House Financial Services Committee in 2020 and 2021, which concluded that at major banks and investment firms. Lawmakers have given the companies until Sept. 2 to respond.

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Data from other groups appeared to support U.S. lawmakers’ conclusions. Digitalundivided’s 2020 Report show Black women and Latino entrepreneurs receive less than 1% of venture capital, while Crunchbase report 0.9% of female company founders in fintech have raised venture capital funds.

“By default, Web3 is dominated by men, and we don’t see a lot of women-centric brands entering the space right now,” Say Jenny Guo, co-founder of Metaverse platform Highstreet. “However, similar to the tech industry, more and more female creatives will join the industry over time.”