Get Mystery Box with random crypto!

SEC Chair Gary Gensler Claims Lummis-Gillibrand Crypto Bill Un | Bitcoin | Ethereum | Altcoin

SEC Chair Gary Gensler Claims Lummis-Gillibrand Crypto Bill Undermines TradFi

Securities
and Exchange Commission (SEC) Chairman Gary Gensler expressed concerns on June 14 that the new crypto legislation could undermine existing broader market regulations. The reaction was expected from the policymaker who has been fighting hard for his agency to control crypto and treat the majority of assets the same as securities.

The new regulations bill was introduced on June 7 by Senators Cynthia Lummis and Kirsten Gillibrand, proposing to make the CFTC the industry’s primary regulator. This has been supported by industry executives and pro-innovation policymakers as it would result in many assets being classified as commodities such as gold rather than securities such as company stocks. Speaking at the Wall Street Journal’s CFO Network Summit this week, Gensler said crypto should effectively be treated the same as traditional banking and finance markets.

Source

@Bitcoin_Ethereum_Altcoins