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Gary Gensler asked by U.S Senator to provide clarity on crypto regulations

 


Gary Gensler, the chairman of the U.S. SEC has been asked by the United States Senator to provide clarity on regulatory guidance on cryptocurrency. As stated by the senator, in several enforcement actions the SEC has failed to notice the involvement of securities or genuine reason for cryptocurrency status as securities. This would have led to more clarity on regulations. 


SEC chairman to provide clarity on crypto regulation


Concerning the matter of cryptocurrency regulation, a letter was written to the U.S SEC chairman Gary Gensler by Pat Toomey, member of the U.S. Senate Committee on Urban Affairs, Banking, and Housing. In the letter, U.S. Senator Toomey mentioned expressing his concern about the clarity in cryptocurrency regulation around rising digital money technology, cryptocurrencies. 


It does not include only Bitcoin, but also stablecoins. The senator came prepared with his volley of questions that U.S SEC chairman Gary is supposed to answer on those. It is all intending to gain additional guidance on the regulations of cryptocurrency. So far, the SEC commission has enforced actions on crypto regulations around seventy-five or more than that. Fines and penalties of around $2.5 billion have also been imposed on the companies that engage in it. 


Keep following the Cryptoknowmics website, and know about COTI crypto price prediction 2025. 



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