Republicans on the House Financial Services Committee and the House Committee on Agriculture requested clarification from the SEC as to whether the Ethereum token, Ether, is a security.
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The House Financial Services Committee, Subcommittee on Digital Assets, Financial Technology and Inclusion considered the gaps in regulatory and enforcement efforts to combat the use of crypto-currency by bad actors.
House Financial Services Chair Patrick McHenry challenged a CFPB proposed rule to expand its regulatory authority into the market for digital consumer payments.
House Financial Services Committee Chair Patrick McHenry (R-NC) and a bipartisan group of legislators asked banking regulators to clarify "through guidance and other actions" that an SEC Staff Accounting Bulletin, which describes how a custodian must account for digital assets, is not enforceable.
Witnesses testified before the House Financial Services Committee on the growing use of cryptocurrencies for money laundering and other illicit finance.