Thursday, June 1, 2023

Gary Gensler, Chairman of the US SEC

US Securities and Exchange Commission (SEC) Committee Chairman Gary Gensler will testify for the first time before the House Financial Services Committee.

In the interview, Rep. Patrick McHenry, chairman of the US Financial Services Committee, confirmed that the head of the SEC should face questions on April 18 about the approach to the crypto ecosystem.

The House Financial Services Commission has jurisdiction over all aspects of the financial services industry, including banking, securities and digital assets.

In his interview, McHenry noted the SEC’s first inspection hearing. He will be heard on Gensler’s reasoning and approach to Crypto assets. He added that the Council will have a greater oversight in the SEC and a serious approach in terms of “establishing the regulatory sphere for digital assets”.

The SEC’s high-level approach to cryptocurrency has been surprising for many years, with many members of the Democratic Party expressing concern about its approach. Some in the cryptocurrency industry believe that the party’s anti-crypto stance could be disastrous for its 2024 election campaign.

Dennis Porter, co-founder of the Satoshi Action Fund, said many pro-crypto and pro-Bitcoin (BTC) Democrats are lining up to voice their opposition to the party’s position.

US regulators have taken a tougher stance against cryptocurrencies in the first months of 2023, with the SEC issuing well notices to several crypto companies, including Coinbase. The Commodity Futures Trading Commission has also filed a new lawsuit against Binance. However, the cryptocurrency community has always emphasized that the regulations are decided by Congress, not individual agencies.

Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here is not intended to be used as financial advice or investment recommendations. All investment and commercial moves involve risks and it is the responsibility of each person to do their own research before making an investment decision.


Research into crypto assets is not regulated. They may be eligible for sales and all the money invested will be lost. The services or products offered are not directed at or accessible to investors in Spain.

Nation World News Desk
Nation World News Desk
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