More specifically, the U.S. Senate Committee on Banking, Housing, and Urban Affairs will hear testimony from two of the most important regulators on the planet: Jay Clayton of the U.S. Securities and Exchange Commission (SEC) and J. Christopher Giancarlo from the Commodity Futures Trading Commission (CFTC).
Together, Clayton and Giancarlo oversee cryptocurrencies within the U.S.
Both have launched lawsuits against shady crypto organizations, while also stressing the need for continued innovation. It is a tightrope position—lean too much in either direction and catastrophe ensues.
As a result, Clayton and Giancarlo might tackle specific issues during their speeches.
We got an early look at their testimony this morning. One of the targeted issues is “FOMO”—otherwise known as the “fear of missing out”—and the opportunities it presents to con artists.