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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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.
In remarks at a national security forum, SEC Chair Gary Gensler highlighted gaps in the regulation of cryptocurrencies that raise AML concerns and put investors at risk.
The U.S. House of Representatives passed a bill that would direct the CFTC and SEC to jointly create a digital assets working group.
In an opening statement before the CFTC Technology Advisory Committee, Commissioner Brian Quintenz identified ongoing topics for consideration and crypto-currency self-regulatory efforts.