At a hearing to discuss virtual currencies, the U.S. Senate Committee on Banking, Housing, and Urban Affairs signaled that current laws may not be fully equipped to deal with cryptocurrency and hinted that additional legislation may be in its future, Recode reports. Chairs from the Securities and Exchange Commission and the Commodity Futures Trading Commission spoke on current regulation and expressed their interest in sparing a new market from too much early regulation. Jay Clayton, the leader of the SEC, said, “We’ve made it clear what the law is,” adding, “We may be back with our friends from Treasury and the Fed to ask for additional legislation.”
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