On the Hill: Shayna Olesiuk where she testified before the House Financial Services Committee about the need to ensure the banking system is working for everyone in the US. / Photo courtesy Shayna Olesiuk
Representing ‘Main Street Americans’: Shayna Olesiuk ’99 Testifies Before Congress on Financial Risks of Cryptocurrency
Director of Banking Policy at BetterMarkets, she was also tapped by NPR program “On Point” to discuss the Federal Reserve stress tests.
Shayna Olesiuk ‘99 took her expertise to Capitol Hill last week, testifying before the House Financial Services Committee on the risks that cryptocurrencies pose to the financial system and consumers.
Olesiuk, Director of Banking Policy at Better Markets, spent the week advocating for financial stability. She testified on February 6, representing “Main Street Americans,” and appeared on NPR’s On Point on February 3 to discuss the Federal Reserve’s stress tests. (Listen to the episode here.)
A member of the Saint Mary’s School of Economics and Business Administration Advisory Board, Olesiuk credits her Saint Mary’s education with shaping her career.
“At Saint Mary’s, I learned the importance of being part of critical conversations... Formulating my thoughts on key questions to contribute to the debate has been a vital skill throughout my career and was certainly necessary at the hearing.”
In her testimony, Olesiuk emphasized that while digital assets and cryptocurrency have grown rapidly, their promised benefits—convenience, cost savings, and security—have not materialized. Instead, she warned of significant risks, including volatility, fraud, harm to underserved communities, and misleading claims about FDIC deposit insurance.
She urged banks and regulators to prioritize the public interest, particularly given the lessons of the 2008 financial crisis.
“At Saint Mary’s I learned to incorporate values such as social justice with my work in finance and banking... I emphasized the need to ensure the banking system is working for all Americans and to guard against crypto companies that prey on minorities and underserved communities... This is where we should be focusing to do the most good.”
Read Olesiuk’s testimony or watch below: