SEC Chairman Gary Gensler Will Appear At The Congressional Session To Discuss Clarity Of Crypto Regulations

Chairman of the US Securities and Exchange Commission, Gary Gensler. (Photo; Doc. Cryptory)

JAKARTA - The issue of clarity of crypto regulation in the US is increasingly being discussed by various groups including crypto industry players, the crypto community, and the government. Recently, dissatisfaction arose among the crypto industry against SEC actions that were considered to implement "regulations with law enforcement" that took action against companies and people related to crypto.

Gary Gensler, chairman of the US SEC, is scheduled to appear ahead of the House Appropriations Congress Committee on Wednesday. This will be his first appearance since the session of Congress began. Several regulatory actions by the SEC against the crypto industry have been criticized by the industry for being too harsh.

This "regulatory with law enforcement" action was carried out by the agency to oversee the crypto industry which is at the center of attention. In addition, this agency is also leading a coordinated plan with other regulators to cut cryptocurrency relations with the banking sector and curb the digital asset industry.

According totenuh Terrett, Gary Gensler is scheduled to appear before the House Appropriations Congress Committee on Wednesday next week. This will be his first appearance at this Congressional hearing. In addition, on March 29, Gary Gensler is also scheduled to be a witness in the Financial and General Government subcommittee. He will discuss the SEC budget requirements for the 2024 fiscal year.

Factors such as the continuing banking crisis and an increase in the Federal Reserve balance in efforts to deal with the crisis are expected to have an impact on funding for the SEC. Under the leadership of Gary Gensler, the SEC has sued Tron founder Justin Sun for selling unregistered securities, and has also sent Wells Notice to Coinbase regarding sales services and securities staking.

Gary Gensler's appearance ahead of Congress next week will determine the policy direction that the SEC will take in regulating the crypto industry in the future. Observers will pay close attention to how the SEC maintains its position in the current legal cases. In addition, the meeting will also provide an overview of the SEC's budget plans and spending for the fiscal year 2024.

The US crypto industry is still waiting for certainty in terms of regulations, and Gary Gensler's performance in front of Congress will be a focus point of attention. The stakeholders will pay close attention to knowing the SEC's policy direction and attitude towards the crypto industry in the future.