On Wednesday, Gary Gensler released a statement saying he opposes the Financial Innovation and Technology for the 21st Century Act. Gensler stated that the FIT21 bill would expose investors and capital markets to immeasurable risk. 📉 The bill aims to clarify how the SEC classifies crypto by creating the term “digital commodity” for digital assets. However, Gensler argues that this situation will put investors at risk and that the SEC needs more than 60 days to conduct a proper audit. The bill will be voted on Thursday.