US Congress members ask SEC for clarity on crypto approach

A group of US Congress members has called on the Securities and Exchange Commission (SEC) to clarify its position in respect of the application of securities laws to digital tokens and cryptocurrencies.

In a letter, Congress Representatives Ted Budd, Warren Davidson, Tom Emmer and Darren Soto and 11 co-signatories, asked SEC Chairman Jay Clayton to clarify the agency's approach to the treatment of offers and sales of digital tokens, arguing that the "current uncertainty" is hindering innovation in the USA and could drive business elsewhere.

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