SEC's Gary Gensler will stand firm on crypto enforcement during Senate hearing
Though his agency has suffered numerous losses in court, Gensler sticks to his guns at Senate Banking Committee hearing .
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Seemingly unfazed by a recent series of legal setbacks, U.S. Securities and Exchange Commission Chairman Gary Gensler remains convinced his agency should be the one that rules crypto – and plans to say the same thing to lawmakers on September 12.
In the last two months, the securities regulator lost to Grayscale and Ripple, which was considered a major blow to the regulator.
However, in his testimony prepared for the Senate Banking Committee hearing, Gensler will reiterate his view that crypto assets are in fact securities and should be regulated by his agency. The Senate hearing will focus on SEC oversight of certain issues.
“Given this industry's widespread non-compliance with securities laws, it is not surprising that we have seen many problems in these markets. We've seen this story before. This is reminiscent of what we had in the 1920s, before the federal securities laws were in place,” Gensler’s prepared testimony reads.
NEW: Ahead of tomorrow's @BankingGOP hearing, @GaryGensler has released the testimony he will give to the committee. Here's what he'll have to say about crypto tomorrow pic.twitter.com/jSGwaWvOi0
— Taylor Barr (@taylorjbarr) September 11, 2023Sticking to a consistent theme, Gensler claimed that almost all crypto assets meet the requirements.
Though his agency has suffered numerous losses in court, Gensler sticks to his guns at Senate Banking Committee hearing .
News
Join us on social media
Seemingly unfazed by a recent series of legal setbacks, U.S. Securities and Exchange Commission Chairman Gary Gensler remains convinced his agency should be the one that rules crypto – and plans to say the same thing to lawmakers on September 12.
In the last two months, the securities regulator lost to Grayscale and Ripple, which was considered a major blow to the regulator.
However, in his testimony prepared for the Senate Banking Committee hearing, Gensler will reiterate his view that crypto assets are in fact securities and should be regulated by his agency. The Senate hearing will focus on SEC oversight of certain issues.
“Given this industry's widespread non-compliance with securities laws, it is not surprising that we have seen many problems in these markets. We've seen this story before. This is reminiscent of what we had in the 1920s, before the federal securities laws were in place,” Gensler’s prepared testimony reads.
NEW: Ahead of tomorrow's @BankingGOP hearing, @GaryGensler has released the testimony he will give to the committee. Here's what he'll have to say about crypto tomorrow pic.twitter.com/jSGwaWvOi0
— Taylor Barr (@taylorjbarr) September 11, 2023Sticking to a consistent theme, Gensler claimed that almost all crypto assets meet the requirements.
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