US ponders tougher crypto rules

NEW YORK, Feb 7 (AFP): US regulators joined on Tuesday a growing chorus of officials saying they may need new powers to regulate cryptocurrencies which pose risks the investing people do not recognise.

Bitcoin and other digital currencies have seen demand soar in recent weeks along with their value, accompanied by a rise in questionable investment scams that has prompted increased attention by the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), the main agencies overseeing US financial markets.

SEC Chairman Jay Clayton said virtual currencies often are traded on electronic platforms that call themselves "exchanges" but have a "deceiving" appearance.