Share this article
US Intelligence Chief Raises Concerns With SEC Over China's Crypto Dominance: Report
U.S. intelligence chief John Ratcliffe was reportedly seeking clearer regulation around digital currency.
Updated Sep 14, 2021, 10:35 a.m. Published Nov 25, 2020, 1:58 p.m.
The U.S. Director of National Intelligence has written to the Securities and Exchange Commission (SEC) over fears China's dominance in the area of digital currencies could put the U.S. at a disadvantage.
STORY CONTINUES BELOW
- According to the Washington Examiner on Tuesday, John Ratcliffe wrote to SEC Chairman Jay Clayton earlier in November in an effort to push the agency to bring in rules that would allow U.S. businesses to be more competitive.
- Ratcliffe is said to have raised the fact that over half of the global cryptocurrency mining power is based in China, and that the People's Bank of China is already developing its national digital currency.
- Ratcliffe reportedly offered to have senior economic intelligence officials brief Clayton on the issues.
- The Examiner said the SEC did not respond immediately to its question asking if Clayton will accept the briefing.
- Ratcliffe is also said to have attached a copy of a letter sent Clayton by U.S. Sen. Tom Cotton (R-Ark.) in the summer stating the need for "clearer articulation of policy" and formal guidance on digital currencies.
- Clayton will step down from his SEC role at the end of this year.
See also: Coinbase Will Suspend All Margin Trading Tomorrow, Citing CFTC Guidance
Meer voor jou
Wat u moet weten:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Meer voor jou
UK to Plans to Start Regulating Cryptocurrency in 2027
Legislation will be introduced into Parliament on Monday extending existing financial regulation to crypto companies.
Wat u moet weten:
- The U.K. government is set to introduce legislation for regulating cryptocurrency from October, 2027.
- The bill will be little changed from draft legislation published in April.
- In extending existing financial services rules to the crypto industry, the U.K. will be emulating the approach of the U.S.
Top Stories
