SEC chief Gary Gensler will face the Financial Services Committee and justify his recent policies and approach towards the crypto ecosystem.
The House Financial Services Committee is in charge of regulating all aspects of the financial services sector, including banking, securities and digital assets in the U.S.
During his interview, McHenry noted that it will be the first oversight hearing of the SEC. The hearing will be focused on Gensler’s rulemaking and his approach towards crypto assets. He added further that the committee will have a large general oversight over the SEC and would take a serious approach in terms of “laying down a regulatory sphere for digital assets.”
SEC chief’s approach towards crypto has turned many heads over the years, and many from the Democrat party have voiced their concern against his approach. Many in the crypto industry believe that the party’s anti-crypto stance could be disastrous for its 2024 election campaign.Dennis Porte, the co-founder of the Satoshi act fund, said that many pro-crypto and pro-Bitcoin Democrats are lining up to voice their opposition to their own party’s stance.
Democrats are on the verge driving their own voters away and losing support from this important new voter block. In my opinion it could cost Democrats the 2024 election.
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