Bitcoin

<ul><li>SEC Chair Gary Gensler reinforces a call for crypto regulation, emphasizing compliance with federal securities laws.</li><li>Recent SEC rule extends oversight to DeFi platforms, signaling increased regulatory control.</li><li>Gensler&#39;s commitment to strict crypto regulation persists despite criticism on rulemaking pace.</li></ul>In a recent appearance before the House Financial Services Committee, SEC Chair Gary Gensler reiterated his unwavering position that cryptocurrencies and the entities operating within the crypto sector must be subject to federal securities laws. Fox Business journalist Eleanor Terrett shared a thread on X with Gensler&#39;s testimony, adding to the anticipation surrounding his testimony.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/2ece88ba2bf24b30a60bc6c72804356a.png" /><a href="https://docs.house.gov/meetings/BA/BA00/20230927/116403/HHRG-118-BA00-Wstate-GenslerG-20230927.pdf" rel="noopener noreferrer nofollow">Gensler&#39;s</a> testimony shed light on the pervasive noncompliance with securities regulations within the cryptocurrency industry, underscoring the challenges and issues that have arisen as a consequence. He emphasized the critical need for compliance, asserting that the majority of crypto tokens should adhere to the existing securities laws. Gensler went a step further, stressing that this compliance obligation extends to crypto intermediaries, reaffirming his commitment to imposing rigorous regulations within the crypto space.Of notable mention was the SEC&#39;s recent rulemaking initiatives, with Gensler highlighting an April release. This release expanded the definition of exchanges to encompass crypto platforms, including those in the decentralized finance (DeFi) sector. This strategic move signifies the SEC&#39;s intent to assert its authority over the growing DeFi sector, subjecting it to the same regulatory framework as traditional exchanges.Read full article<a href="https://cryptotale.org/crypto-clash-sec-chair-genslers-stand-on-federal-laws/" rel="noopener noreferrer nofollow"> at CryptoTale.</a>

Crypto Clash: SEC Chair Gensler's Stand on Federal Laws

CryptoTale

Other articles published on Sep 27, 2023

Beyond the Neon Lights: An Overview of Online Casino Games

Why the ‘NFT is dead’ beliefs are exaggerated

Laser Digital of Nomura is given preliminary approval to operate in Abu Dhabi.

Ramp partners with MetaMask to enhance web3

Why is Automotive Stocks Like Fisker Declining To New Lows?

Marathon Digital confirms it mined invalid Bitcoin block

Join our free newsletter for daily crypto updates!