Top republican calls on SEC chair to clarify crypto regulations
Republican leader Patrick McHenry, a member of the House Financial Services Committee has once again demanded clarification on cryptocurrency regulations from the US SEC chairman Gary Gensler.
Republican McHenry accused Gensler of making contradictory remarks on crypto regulations that have confused investors and parliamentary officials. He sent an open letter to the SEC chairman, laying out a timeline of his public statements on regulations over stablecoins and crypto exchanges.
Rep. McHenry has been actively working to improve regulations, such as submitting a bill to clarify the regulation of cryptocurrencies by establishing a working group in March this year.
He also proposed a bill called ‘Clarity for Digital Tokens Act of 2021’ on the 4th which would enable crypto developers to raise money through token sales without full registration as securities.
The proposed bill came just half an hour before the Financial Services Committee’s hearing with Gensler. McHenry also sent the letter just hours in advance of the meeting, posing six questions on regulatory clarity and asking for a written response.
In his letter, Congressman McHenry listed Gensler’s remarks on crypto exchanges and stablecoin over the course of several months, claiming that his “evolving statements” about the SEC’s authority were inconsistent and confusing.
Rep. McHenry has set a deadline for Gensler’s response until October 19.
The post Top republican calls on SEC chair to clarify crypto regulations appeared first on Our Bitcoin News.
OhNoCryptocurrency via https://www.ohnocrypto.com/ @Gauri Bhatia, @Khareem Sudlow
