History also has proved that transparency, investor protection and market integrity are critical to ensuring that innovation continues. But today we are seeing substantial DLT-related market activity that shows little or no regard to our proven regulatory approach. This concerns us. Earlier this month, the collective market capitalization of cryptocurrencies topped $700 billion. Direct participation by U.S. investors in cryptocurrencies is significant. The prices for these currencies are set by trading on “spot” platforms. Many of these platforms are based offshore—and none are registered with the Commodity Futures Trading Commission or the Securities and Exchange Commission.

https://www.wsj.com/articles/regulators-are-looking-at-cryptocurrency-1516836363