Gary Gensler SEC Hearing, Ralph Yarl Update and more (Call in Show)

The House Financial Services Committee Chairman Patrick McHenry in his initial arguments accused Gary Gensler of failing to explain how crypto firms should comply with the laws. The U.S. Securities and Exchange Commission (SEC) Chair faced the House Financial Services Committee in a hearing on the SEC’s oversight. In a pre-hearing testimony document, Gensler repeated his stance on the crypto market assets already being compatible with the existing securities laws.

Further, when Gensler was asked if Ethereum (ETH) was a security or a commodity, the SEC Chair failed to give a straightforward reply to the dismay of Chairman McHenry. The House Committee Chair repeatedly asked particularly about ETH given the 50 enforcement actions, to which Gensler tried to give a generic response: “it depends on the facts of the law.” (coingape.com)

#garygensler

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