‘Understanding Dangers’
Clayton also said he will continue to highlight his concerns in speeches and public comments. He’s slated to testify before Senate Banking Committee next week along with Giancarlo, the CFTC chairman.
Both are also part of a special working group, set up under the Treasury’s Financial Stability Oversight Council, to monitor cryptocurrencies. Officials who attended the FSOC’s December meeting said they were struck by Clayton’s comments on the need for the government to protect retail investors as they creep into the market.
“It’s not just the public that I’m talking to, I’m talking to other regulators inside and outside the U.S.,” Clayton said. “I think that the level of understanding of the dangers in trading of these instruments has increased substantially.”
This article was provided by Bloomberg News.