According to BlockBeats, US Treasury Secretary Janet Yellen has denied providing guidance or coordination to the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) regarding cryptocurrency regulation. Yellen made this statement while testifying before the US House Financial Services Committee on July 10.
The Treasury Secretary's comments come amid ongoing discussions about the role of various regulatory bodies in overseeing the rapidly evolving digital currency sector. Yellen's statement indicates that she has not been directing or coordinating the actions of the SEC and CFTC, two key regulatory bodies in the US financial system.
This news provides insight into the current state of cryptocurrency regulation in the US, highlighting the independence of the SEC and CFTC in their approach to this new financial technology. It also underscores the complexity of the regulatory landscape for cryptocurrencies, with multiple agencies involved and no clear guidance from the Treasury Department.