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The U.S. Securities and Exchange Commission’s (SEC) Chairman, Gary Gensler, has come under fire for how he has handled the cryptocurrency market. Many influential figures have spoken out in favour of clear restrictions on digital assets.The SEC chair will testifyThe SEC Chair will testify, according to Fox Business Journalist Eleanor Terrett. But she did add that, based to her sources, Gensler will respond to Senate Banking and Housing Democrats’ inquiries on September 15, 2022.Rostin Behnam, the commissioner of the CFTC, will testify before the United States Senate Committee on Agriculture, Nutrition, and Forestry, she said. The SEC Chair reportedly shared his thoughts on how the cryptocurrency markets ought to be managed in an op-ed, according to<a href="https://www.coingabbar.com/" rel="noopener noreferrer nofollow"> Coingabbar</a>. He connected the automobile sector to digital assets.However, he asserted that there is no rationale for elevating the status of digital assets in any way. There is no need to treat the stock market differently. The SEC Chair claims that investors have taken advantage of cryptocurrency loan platforms that have collapsed this year.It will be interesting to see whether the Senate grills the SEC Chair over the Crypto laws in the interim. She stated that the Senate Agriculture hearing would include discussion of the recently introduced digital asset bill.Will the CFTC be given the power to regulate digital assets?The goal of the proposed cryptocurrency legislation is to give the CFTC control over all digital goods. Terrett said that the top watchdogs and significant corporate executives will testify before the bill is put to a vote. She stated that it is unlikely that the law would be passed this year.John Deaton, the lawyer for<a href="https://www.coingabbar.com/en/crypto-currency/ripple-xrp-prices-usd" rel="noopener noreferrer nofollow"> the XRP holders</a>, was cited. Senator Jack Reed eventually ignored them. He debated whether or not to question the SEC Chair about his backing of Empower US. When it comes to the SEC’s growing irregularities and conflicts of interest, will they check into them?

SEC Chair and CFTC to Testify Regarding Crypto Bill, Citing Sources

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