The US Senate is today holding a discussion entitled “Virtual Currencies: The Oversight Role of the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission”.
As the name implies, the subject under discussion is the extent to which the American financial watchdogs can control the partially regulated assets.
The heads of the SEC and the CFTC, Jay Clayton and J. Christopher Giancarlo respectively, will be faced with a number of industry witnesses, which are listed on the official government website.
Clayton said in his pre-prepared statement: “As Chairman Giancarlo and I stated recently, we are open to exploring with Congress, as well as with our federal and state colleagues, whether increased federal regulation of cryptocurrency trading platforms is necessary or appropriate. We also are supportive of regulatory and policy efforts to bring clarity and fairness to this space.”
We will be providing updates on the hearing as it progresses.
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