Bitcoin

<ul><li>SEC Chairman Gary Gensler faces questions in a House hearing over his approach to regulating crypto, House.</li><li>Along with Crypto enthusiasts, crypto capital venture Paradigm accuses SEC of circumventing its ongoing case against Binance.</li><li>Crypto proponents share concerns about the interpretation of the &#39;investment contract&#39; after Torres raised questions against Gensler.</li></ul>While the SEC is trying to pursue a legal suit against Binance and Coinbase, Congress is taking a pro-crypto stance. Earlier this week, the US Securities Exchange Commission (SEC) chairman, Gary Gensler, fielded multiple questions raised by Democrats in the House committee hearing. Gensler faced vigorous questions by the members of Congress from both sides of the political spectrum. Ritchie Torres, a congressman from The Bronx, <a href="https://twitter.com/TheBlock__/status/1707861631630246026?s&#61;20" rel="noopener noreferrer nofollow">sought</a> clarity regarding the &#39;investment contract&#39; and which financial institutions fall under the scope of SEC.It was observed that not only the crypto market is in doubt about the leadership of the chair Gary Gensler, but also Paradigm, crypto venture capital, accused the SEC of the case against Binance and filed an <a href="https://policy.paradigm.xyz/assets/writing/SECv.Binance-09.28.23-Paradigm-Amicus-Brief.pdf" rel="noopener noreferrer nofollow">amicus</a> brief. Paradigm <a href="https://policy.paradigm.xyz/writing/binance-amicus" rel="noopener noreferrer nofollow">stated</a> that the SEC is attempting to leverage the disturbing allegations it levies in its complaint to change the law while circumventing the rulemaking process.During the exchange, Torres brought up the topic of whether an investment contract requires an actual contract, pointing out the landmark SEC v. Howey case. The series of questions raised by Torres echoed the concern of many crypto enthusiasts that the word &#34;investment contract&#34; has been interpreted too broadly that anything Gensler considers as security is deemed under SEC.Read full article a<a href="https://cryptotale.org/coinbases-d-c-push-is-starting-to-woo-democrats-report/" rel="noopener noreferrer nofollow">t CryptoTale.</a>

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