U.S. Authorities Eye Closer Cooperation On Virtual Currencies

The near future of U.S. virtual currency enforcement is likely to involve greater cooperation between existing agencies before any new laws are proposed, financial regulators have told lawmakers.

Jay Clayton, chairman of the U.S. Securities and Exchange Commission (SEC), and Christopher Giancarlo, chairman of the Commodity Futures Trading Commission (CFTC), gave evidence on the technology to the Senate Banking Committee on Tuesday.

The pair gave an account of their respective regulators’ actions in response to the rise and exploitation of virtual currencies.

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