NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Muddied and Fairly Opaque Crypto Industry Needs Oversight, Says US Lawmaker

newsbtc
newsbtc
6 years ago
2 mins read
Crypto

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

A member of the U.S. House Financial Services Committee wants lawmakers to focus more attention on initial coin offerings (ICOs) and the trading of crypto assets, calling the market “muddied and fairly opaque.”

Regulators Need to Ensure Crypto Investors Are Protected

Representative Bill Huizenga, a Michigan Republican, is reported to have voiced his concerns yesterday. According to him, Congress needs to work with regulators to make sure that crypto investors are protected when dealing with digital currencies.

Additionally, agencies such as the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) could be given extra power, Huizenga said. This could include overseeing the markets with rules that oversee currencies and stocks, reports Bloomberg.

Yet, in Huizenga’s opinion lawmakers are faced with a challenge: determining how to classify crypto assets.

“Everyone’s trying to figure out whether it’s fish or fowl,” he said. “It turns out it might be a platypus. It’s kind of an unknown, or something sort of in between. How do we deal with that??”

Over the last nine years cryptocurrencies have steadily gained in popularity. Yet, this also makes the susceptible to criminals and their nefarious activities. Not only that, but many scams involving digital currencies have been reported on, which has seen market leaders calling for action to be taken.

SEC Labels Bitcoin and Ether Not Security

Back in June, William Hinman, the SEC’s director of corporate finance, made it clear that the agency had no plans to deem Ether a security.

At the time, though, he added that some tokens based on Ether could be, such as those that offer stakes in companies. It is these tokens or ICOs that are most likely to be considered as securities. However, that depends on how they are offered or sold to the public.

Jay Clayton, chair of the SEC, already reiterated earlier last month that Bitcoin wasn’t classified as a security.

It is these other tokens and ICOs that need greater scrutiny when it comes to protecting investors from fraudulent investments. Clayton has even said in the past that ICOs need to take measures to follow securities regulation. The agency even went so far as to launch a fake ICO website in May to highlight the potential risks to investors.

According to CoinSchedule, ICOs have raised over $17.2 billion in the first seven months of 2018. That’s compared to more than $3.6 billion in the whole of 2017. Notably, though, investigations of more than 60 investigations have been undertaken through Operation Cryptosweep in a bid to rid the industry of fraudulent token offerings.

Featured image from Shutterstock.
Tweet123Share196ShareSend
newsbtc
newsbtc

newsbtc

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin

Bitcoin Must Hold $106,000 And $98,000 To Avoid Breakdown

Bitcoin is currently holding just above the $108,000 level and bulls are maintaining momentum after a volatile start to July....

Scott Matherson 1 day ago
Bitcoin

Analyst Shares Bitcoin Cheat Sheet Showing When The Bull Run Begins

Bitcoin has held steady around the $108,000 price level in recent days. After bouncing back from a brief pullback near...

Scott Matherson 1 day ago
ethereum

Ethereum Approaches Wyckoff ‘Liftoff’ Phase – Can ETH Reach A New High?

Ethereum (ETH) is up 4.2% over the past seven days, trading in the mid-$2,500 range at the time of writing....

Ash Tiwari 2 days ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

XRP

XRP Could Hit $35 If It Captures A Quarter Of Remittance Market By 2029

Christian Encila 4 hours ago
XRP

XRP Eyes Breakout As Analysts Predict Rally Alongside Real-World Adoption

Scott Matherson 22 hours ago
Ethereum

Ethereum Ready For Explosive Breakout: $5,791 The Minimum Target–Analyst

Scott Matherson 1 day ago

Premium Sponsors

Press Releases

  • XRP, SOL, LTC holders turn to OPTO Miner to earn $5,777 in...

    1 hour ago
  • More and more XRP and ETH holders are turning to APT Mienr...

    2 hours ago
  • 新しい仮想通貨|今買うべき注目の3つの新プロジェクトと高い成長可能性

    ...

    4 hours ago
  • 本日の暗号資産市場が上昇中、その背景とは?次のラリーに備える仮想通貨おすすめ3選

    ...

    4 hours ago
  • 2025年にCardano、XRP、Pepeが急騰か?注目の仮想通貨プレセールと次なるミームコインの動向

    ...

    5 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.