Updates Ongoing: US House Hearing With Commissioners of the SEC

Disclaimer: This report is being updated live from the Financial Services Committee floor.

Check in for the latest on the hearing's progress.

In advance: As Cointelegraph reported on Sept. 20, the United States House of Representatives Financial Services Committee is holding a hearing today, Sept. 24, with the Securities and Exchange Commission Chairman Jay Clayton and four other SEC commissioners.

At the time of the announcement, the published agenda included such critical topics for Cointelegraph's readers as the SEC's "Howey test" for considering cryptocurrencies securities, regulation strategy for Facebook's Libra, the 144A exemption that crypto offerers like Van Eck operate under, and more general "Environmental, social, and governance" matters.

10:06 Financial Services Chair Maxine Waters began the hearing with statements touching on a wide range of the SEC's activities, singling Facebook's Libra out, saying that itt appears that "Facebook is looking to establish a new global financial system intending to rival the U.S. Dollar."

Republican Ranking Member Patrick McHenry encouraged the SEC "To reduce regulatory barriers," saying that "You will hear a lot of doom and gloom today. It is not all doom and gloom."