The head of the SEC and the CFTC will participate in the hearing of the U.S. Senate on cryptocurrency

The head of the SEC and the CFTC will participate in the hearing of the U.S. Senate on cryptocurrency

The head of the Commission on securities and exchange Commission (SEC) and the Commission on trade commodity futures U.S. (CFTC) intend to speak at the hearing of the U.S. Senate on the cryptocurrency, which will be held next week.

The meeting of the Senate Committee on banking, housing and urban Affairs will take place on 6 February at 10.00. The head of the SEC and Jay Clayton, the head of the CFTC George. Christopher Giancarlo will give at the meeting testimony. Informed of the hearing and the participation of Clayton and Giancarlo reported the Washington newspaper the Hill.

The hearing is entitled “Virtual currency: the Supervisory role of the Commission on securities and stock exchanges of the USA and the Commission on trade in commodity futures of the USA” and will be held at a time of active participation in the regulation of the cryptocurrency sphere of the two bodies.

In recent weeks the SEC has filed several lawsuits against alleged fraudulent ICO and CFTC start check exchange Bitfinex and Tether, the company behind a controversial token USDT.

Also, last week Clayton and Giancarlo wrote for the Wall Street Journal combines a column which marked the beginning of greater control over the industry, and also became a warning for dealing with attraction of investments.

In the column reads as follows:

“Market participants, including lawyers, commercial companies and firms providing financial services should know that we are concerned about the many examples of the predominance of form over content, because the arguments based on the form, deprive investors the necessary protection.”

The hearing will be held on February 6 at 10:00, while the online broadcast will take place on sites in the network.

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