Lynch Presses Bessent on Crypto Case Drops and FSOC AI Report Shift
The video clip from a February 2026 House Financial Services Committee hearing shows Rep. Stephen Lynch (D-MA) questioning Treasury Secretary Scott Bessent during testimony on the FSOC annual report. Lynch first highlights the abrupt dismissal of numerous SEC and CFPB enforcement cases against crypto firms shortly after the Trump administration took office, questioning trust in the financial industry. He then contrasts the 2024 FSOC report's warnings about AI risks—including lack of explainability, complexity, bias, and discrimination in credit decisions—with the 2025 report's focus on removing regulatory impediments.
Source: Hill Report Brief