(Full testimony PDF available here)

This testimony was very pro-cryptocurrency, but I read it to indicate that the SEC will regulate to accomplish the following:

• Exchanges will need to comply with SEC if they are trading coins considered securities
• Pump and Dumpers will be sanctioned by SEC if they use coins considered securities (most of them)
• Promoters and managers of projects will need to comply with SEC by registering or having an exemption to registration for ICOs.

Overall, very supportive but in a more regulated market. I see an opportunity for a crowdfunding reg (Reg A+) to be applied to ICOs today.

Cheers,

@dcj