WASHINGTON (Reuters) – Digital currencies such as bitcoin demand increased oversight and may require a new federal regulatory framework, the top U.S. markets regulators will tell lawmakers at a hotly anticipated congressional hearing on Tuesday.
Christopher Giancarlo, chairman of the Commodity Futures Trading Commission, and Jay Clayton, chairman of the Securities and Exchange Commission, will provide testimony to the Senate Banking Committee amid growing concerns globally over the risks virtual currencies pose to investors and the financial system.
Giancarlo and Clayton will say current state-by-state licensing rules for cryptocurrency exchanges may need to be reviewed in favor of a rationalized federal framework, according to prepared testimony published on Monday.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Source: Investing.com