SEC Chair Gary Gensler Set for Back-to-Back Hearings Before Congress

Aug 30, 2023

By Trent Alan | @trent-rhode

Securities and Exchange Commission (SEC) Chairman Gary Gensler is scheduled to appear before Congress twice in September, first testifying to the Senate Banking Committee on September 12 and later to the House Financial Services Committee on September 27. 

The hearings follow mounting criticism from Republican lawmakers over the SEC's approach to regulating cryptocurrencies and digital assets.

Gensler Under Fire for Stance on Crypto Regulation

Ranking member of the House Financial Services Committee, Rep. Patrick McHenry, has accused Gensler of being overly aggressive and lacking transparency in the SEC's crackdown on the crypto industry. McHenry and other critics argue the SEC's enforcement actions have prioritized punishment over providing clear guidelines on which digital assets fall under the agency's jurisdiction.

In April, The House Committee on Financial Services asserted that Gensler had willfully misrepresented the SEC's authority by pushing for crypto firms to register with the agency without an actual framework for registration. 

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