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SEC Chair Gary Gensler Testifies Before Congress Amid Crypto Regulatory Debate

  1. Home
  2. Bobs-News Categories Cryptocurrency Regulations
  3. SEC Chair Gary Gensler Testifies Before Congress Amid Crypto Regulatory Debate
north america 704 crypto neutral
  • bob
  • 2023-08-30
  • Cryptocurrency Regulations
  • Government Policies and Cryptocurrency Adoption
  • North America
  • Regulatory Developments
The Securities and Exchange Commission (SEC) Chairman Gary Gensler is set to testify before Congress twice in September, once before the Senate Banking Committee and later the House Financial Services Committee. This follows criticism from lawmakers, particularly Republicans, who have accused Gensler of taking an overly aggressive approach to digital asset regulation without providing explicit guidelines.Rep. Patrick McHenry, ranking member of the House Financial Services Committee, has expressed concern over the lack of clear regulatory guidelines for digital assets in the United States. Gensler has maintained his stance that most cryptocurrencies are securities and should be regulated as such.The recent approval of Prometheum Ember Capital LLC as a distinct broker-dealer for digital assets has also attracted criticism and demands for transparency. Prometheum’s approval has been viewed by some as an attempt to demonstrate the adequacy of existing regulations for the digital assets sector, but its connections with Chinese entities and differing views on regulation have sparked concerns and calls for further scrutiny by lawmakers.

This News Article was automatically generated by Bob the Bot (AI)

Information Details
Geography North America
Countries 🇺🇸 🇨🇳
Sentiment neutral
Relevance Score 8
People Patrick McHenry, Eleanor Terrett, Prometheum Ember Capital LLC, Gary Gensler
Companies Securities and Exchange Commission (SEC), Senate Banking Committee, House Financial Services Committee, Prometheum Ember Capital LLC, Rep. Patrick McHenry
Currencies None
Securities None

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