New Regulation for Crypto? US Senate Hearing Rekindles Debate348.36

So said Jay Clayton, the chairman of the U.S. Securities and Exchange Commission, at a U.S. Senate hearing on cryptocurrencies today, the answer a response to one of several questions about whether his agency has enough authority over the cryptocurrency market. Despite the moves Giancarlo acknowledged the CFTC is naturally limited due to the fact that the cryptocurrency markets operate globally. Giancarlo painted the markets as not only "New, evolving and international," but generational. The latter observation brought up the question of systemic risk, or the idea a cryptocurrency market crash could have a far-reaching market impact on national economies, a matter that Giancarlo dismissed due to the "Relatively small" nature of the market.
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