Lawmaker calls for Congress to regulate crypto?

Congressman Bill Huizenga, a member of the Financial Services Committee, and the Chairman of the Capital Markets, Securities, and Investment Subcommittee, has urged for the U.S. Congress to empower the SEC and the Commodity Futures Trading Commission (CFTC) to apply the same regulation to the crypto market as they do to any other currency and stock.

Huizenga, while calling the market “an unknown, or something sort of in between”, said that SEC and CFTC should protect investors dealing with ICOs and crypto and provide them with the transparency they desire for.

If the Republicans keep control of the House of Representatives after the forthcoming elections, Huizenga could become the head of the Financial Services Committee.

Similarly, the U.S. Representative Warren Davidson claimed last month that a “light touch” regulation policy is required for ICOs.