Gensler defends SEC crypto crackdown in House hearing

Securities and Exchange Commission Chairman Gary Gensler faced a barrage of criticism from House Republicans on Tuesday over his agency’s crackdown on cryptocurrency trading platforms.

In more than four hours of testimony before the House Financial Services Committee, Gensler stood firm on his view that crypto trading platforms and exchanges should abide by strict U.S. securities laws.

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Republicans raised many of the points the crypto industry regularly makes about regulation, arguing that the SEC’s disclosure rules were designed to regulate traditional markets, and they are ill suited to decentralized digital currency exchanges.

Source: Gensler defends SEC crypto crackdown in House hearing