Whereas Gary Gensler’s introductory speech as the brand new chairman of the US Securities and Alternate Fee (SEC) at all times gave the impression to be a optimistic sign for the crypto world, the listening to earlier than the US Senate Banking Committee was a giant disappointment. As Jeremy Hogan, a preferred lawyer within the XRP neighborhood, requested, there could possibly be numerous lack of obscurity forward for the crypto house.
For a very long time in the course of the Gensler listening to, the dialog wasn’t about blockchain or cryptocurrencies. Nonetheless, after greater than an hour, a senator requested what the US Congress and the SEC can do to create a “forward-thinking regulatory framework.”
A senator from Tennessee additionally requested the brand new SEC chairman about his “strategy to digital property.” Gensler stated he would deal with cryptocurrencies in a “technologically impartial” method.
Lastly, Hogan notes that Gensler’s responses dovetailed with the SEC’s latest “danger warning” for digital property. Which isn’t an excellent signal for the crypto world. The SEC may proceed its reign of terror to control with litigation and threats of lawsuits.
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