House's 1st Fintech Task Force Hearing Hits On Crypto Regs

Law360 (June 25, 2019, 9:52 PM EDT) -- A U.S. Securities and Exchange Commission official said Tuesday the agency has provided clear guidance governing digital tokens, while being questioned by skeptical lawmakers who are investigating the regulatory landscape in fintech.

On the heels of Facebook’s announcement last week that it plans to launch its own cryptocurrency in 2020, the newly assembled House Task Force on Financial Technology held its inaugural hearing Tuesday, with some members focusing squarely on how the SEC has been policing the budding cryptocurrency market.

Valerie Szczepanik, senior adviser for digital assets and innovation and associate director of the Division of Corporation Finance at the SEC,...

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