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SEC and CTFC chairs to testify U.S. Senate’s hearing on cryptocurrencies

The chairs of the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are going to deliberate on cryptocurrencies during an open session scheduled next week, CoinDesk reported.

The U.S. Senate Committee on Banking, Housing, and Urban Affairs is conducting a hearing on entitled, “Virtual Currencies: The Oversight Role of the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission” on February 06, 2018.

According to the details, SEC chairman Jay Clayton and CTFC chairman J. Christopher Giancarlo are going to appear as witnesses.

The hearing comes on the heels of a recently published op-ed from Clayton and Giancarlo on the Wall Street Journal.

“Many of the internet-based cryptocurrency-trading platforms have registered as payment services and are not subject to direct oversight by the SEC or the CFTC,” they wrote. “We would support policy efforts to revisit these frameworks and ensure they are effective and efficient for the digital era.”

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