Gensler Holds Firm on his Crypto Opinion; Set for Senate Hearing Today.
U.S. SEC leader, Gary Gensler, stands firm on crypto rules, despite challenges. He'll speak in the Senate on Sept 12,
Despite recent legal challenges in the crypto world, Gary Gensler, the head of the U.S. Securities and Exchange Commission (SEC), remains firm. He'll discuss this in a Senate meeting on September 12.
Even after the SEC faced hurdles with Ripple and Grayscale's Bitcoin plans, Gensler is ready to keep his stance. He says his goal is to protect both the people making and buying crypto.
Gensler has a clear view: Almost all digital coins are like "securities," or special investment deals. They fall under U.S. rules that help make sure investments are safe. “Most digital coins need to follow these safety rules, and so do the businesses handling them,” Gensler stated.
He's also worried that many in the crypto world aren't following the rules properly. Gensler feels that people buying crypto should be as safe as those buying other investments. He’ll face tough questions in the Senate, as some think the SEC is being too harsh on crypto.
