The Financial Services Committee of the U.S. House of Financial Services Representative has scheduled a hearing with the Chairman of the Securities and Exchange Commission (SEC) Jay Clayton and four other SEC Commissioners to discuss, inter alia, krypto.
In a memorandum dated September 19, the FSC stated that it would hold a hearing on September 24, entitled "Supervision of the Securities and Exchange Commission": Wall Street's Cop on the Beat'.
This single panel hearing will include the Chair of the Securities and Exchange Commission (SEC), Jay Clayton, Commissioner Hester Pierce (AKA Crypto Mom) and three other Commissioners.
The FSC has included cryptographic currencies in its list of topics for discussion and points out that federal securities laws apply to securities - including stocks, bonds and investment contracts - whether digital or not.
The hearing will address the issues of exchange-traded investment funds (ETFs), whether or not digital assets are collateralised or not exempt from securities law, and of course the planned launch of the Libra stabilcoin system in 2020 on Facebook.
