Security and Exchange Commission chair Gary Gensler is still on the crypto warpath, reiterating his stance in a recent statement to the Banking Committee.
Things have settled down a little since the SEC’s court losses against Ripple and Grayscale. However, the head of the federal regulator remains committed to crushing the industry by enforcement actions rather than regulation.“There is nothing about the crypto asset securities markets that suggests that investors and issuers are less deserving of the protections of our securities laws.”against his claims that crypto assets are securities, Gensler has remained steadfast.
Bloomberg ETF analyst James Seyffart said that many Senators are going after him for the “avalanche of rule proposals in his administration that do not have the backing of Congress.” Tons of senators are going after Gensler for the avalanche of rule proposals in his admin that do not have the backing of congress. Gonna be a key aspect to watch when/if the SEC starts losing cases in the courts via the major questions doctrine h/t
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