The Senate Banking Committee will hold a hearing entitled “Virtual Currencies: The Oversight Role of the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission” on February 6 examining the implications of cryptocurrency.
Commodity Futures Trading Commission (CFTC) Chairman Christopher Giancarlo and Securities and Exchange Commission (SEC) Chairman Jay Clayton will testify before the committee at the hearing, said a source with knowledge of the matter. All executive sessions are webcast live and will not be available until the hearing starts.
The agencies have largely not taken firm regulatory action on bitcoin or other cryptocurrencies over the past several months, but have issued warnings to investors about cryptocurrency in recent months.
We have recently reported that CTFC began a close study of the activities of one of the leading exchanges Bitfinex and Tether, sending representatives of both organizations summonses to the court.