Chairmen of regulatory agencies in the U.S. met with the Senate on Tuesday. The meeting was about Housing, Banking, and Urban Affairs and discussed policies and regulations. It also touched on concerns with digital assts and blockchain technologies. Specifically the growing concerns on ICOs, trading exchanges, derivatives, and exchange-trades. Mainly, government officials are worried about these assets causing financial crimes such as money laundering and etc. Chairman of the Securities Exchange Commission, Jay Clayton, stated that there has not been an ICO that can be classified as a security under federal law. He also said why the SEC has not accepted sponsors to address Bitcoin ETFs. Bitcoin ETFs mainly focus on target retailers. He feels that their establishment should be more regulated. Meanwhile, Chairman Christopher Giancarlo, took a firm and positive stance on his beliefs of Bitcoin and digital assets. He started his discussion by using a common crypto word “hodl”. He then went on to say, “Without Bitcoin, there would not be any blockchain technologies”. The hearing touched on many important topics and will definitely lead to the US market creating cryptocurrency regulations.
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