SEC and CFTC chairman will attend the Senate cryptocurrency hearing next week

nRunaway Comment: The U.S. Senate will hold a cryptocurrency hearing next week, focusing on the regulatory role of the SEC and the CFTC in this area. The chairmen of the two regulatory bodies have already confirmed that they will attend as witnesses. As the two have just co-authored an article on cryptocurrency regulation, they may be giving more guidance at the hearing, making the conference even more exciting.n
nTranslation: Inan
Leaders of the Securities and Exchange Commission and the Commodity Futures Trading Commission will attend as witnesses a hearing by the U.S. Senate on cryptocurrencies next week.n
The Senate “Banking, Housing and Urban Affairs Committee” will hold a meeting on the morning of February 6 at 10:00 am Eastern. SEC Chairman Jay Clayton and CFTC Chairman Christopher Giancarlo Will attend as a witness. The Hill, a news service in Washington, covered the incident earlier this month.n
The theme of this hearing is “The Virtual Currency: The Supervisory Role of the Securities and Exchange Commission and the Commodity Futures Trading Commission.”n
The SEC recently filed a series of lawsuits over allegedly fraudulent ICO activities and the CFTC has begun a closer look at Bitfinex and Tether activities on the cryptocurrency exchange, which is closely linked to the controversial USDT tokens.n
The Wall Street Journal recently published a column by Clayton and Giancarlo that promises to monitor the industry more closely and warns some who recruit.n
They wrote:n
n”Market participants, including lawyers, trading houses and financial services companies, should be aware that we have encountered many forms of over-hype and even neglect of their substantive examples, and the arguments they have caused have left investors unable to obtain legal protection. “n
nThis hearing will be live online.n

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