SEC chief Gary Gensler to face Congress grilling over crypto policy
SEC chief Gary Gensler to face Congress grilling over crypto policy
The chair of the Financial Services Committee, U.S. Representative Maxine Waters, stated that its primary focus would be to set the groundwork for crypto regulations in the United States.
Chair of the Securities and Exchange Commission, Gary Gensler, is due to appear before the Financial Services Committee for a hearing on May 26th regarding the regulation of cryptocurrency. The hearing, titled “Oversight of the Securities and Exchange Commission: Protecting Investors and Strengthening Markets,” is likely to focus on Gensler’s efforts to create better investor protection, enhanced enforcement of securities laws, and greater transparency requirements.
The hearing is likely to cover a wide range of issues related to crypto, including whether the US should update its laws and regulations, the impact of Initial Coin Offerings (ICOs), and the implications of digital assets on the broader market. Gensler is expected to use this opportunity to, once again, express his views on the important role that digital assets are playing in the global financial system. He has already highlighted his desire to see the US create a framework for digital asset regulation that is “appropriate but also protective of investors.”
The hearing will also serve as a reminder of Gensler’s commitment to expanding investor protection, and his eagerness to increase the transparency of the financial services industry. His presence at the hearing is also likely to bolster confidence among regulators, investors and entrepreneurs who are looking to gain more clarity on the US’s stance on cryptocurrencies.
Though no specific questions have been announced, the hearing is sure to address the various regulatory and legislative proposals surrounding the cryptocurrency space. It is highly likely that Gensler will use this opportunity to further expand on the SEC’s efforts to create a comprehensive digital assets regulatory framework.
The hearing is set to take place on May 26th, and could prove to be a pivotal moment for the crypto space. With Gensler holding forth, it is important to keep an eye on the proceedings, as it could have a major impact on the future of cryptocurrency in the United States.