SNEAK PEEK

  • SEC Chair Gary Gensler is scheduled to testify before the House Financial Services Committee.

  • Gensler’s prepared testimony outlines key agendas he will focus on to defend his strict actions against the crypto market.

  • The SEC’s rulemaking work is grounded in legal authorities granted by Congress.

On Tuesday, April 18, SEC Chair Gary Gensler is scheduled to testify before the House Financial Services Committee regarding the oversight of the SEC. In his prepared testimony, Gensler has outlined the key agendas he will focus on to defend his strict actions against the crypto market.

@GaryGensler’s prepared testimony for tomorrow’s oversight hearing.

“Nothing about the crypto markets is incompatible with the securities laws.

As I’ve said numerous times, the vast majority of #Crypto tokens are securities.” #CryptoNews #cryptomarket https://t.co/9VUPwj46kR

— Investor Bites (@InvestorBites) April 18, 2023

Gensler will address his concerns regarding the lack of investor protection in the cryptocurrency industry and the need for greater regulation to address this issue. He will also emphasize the importance of bringing cryptocurrency exchanges under SEC oversight and enforcing the existing securities laws to protect investors from fraudulent practices.

In the prepared testimony that was submitted before the SEC oversight meeting, it was said that the key agenda items that would be discussed include cryptocurrency, equity markets, private funds, artificial intelligence (AI), treasury markets, money market funds, and climate risk disclosure.

The SEC chair will take an active role in discussing and addressing these important issues during the hearing. It is essential that these topics are given proper attention and that the SEC is proactive in taking steps to ensure the integrity and safety of these markets. By actively engaging in this discussion, the SEC can play a key role in promoting transparency and trust in these areas.

Additionally, Gensler has emphasized that forsaking investor protection puts real people’s life savings at risk and that the goal is to protect U.S. investors. He stated that the SEC’s rulemaking work is grounded in legal authorities granted by Congress, and the agency is determined to enforce the law and hold accountable those who violate it.

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