The cryptocurrency market took a nosedive earlier this month after the stock market tanked and the Peoples Bank of China issued a statement that it would block access to all domestic and foreign cryptocurrency exchanges. Further uncertainty was facilitated by the SEC Chair's (Jay Clayton) scheduled testimony on February 6 to the Senate Banking Committee about regulating cryptocurrency and Initial Coin Offerings ("ICOs"). If the United States followed suit with China, the cryptocurrency sell-off would likely be massive.
At the hearing, the SEC Chair was cautiously optimistic
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