Gary Gensler To Face Congressional Scrutiny on Crypto Regulation

Gary Gensler To Face Congressional Scrutiny on Crypto Regulation

The  US Securities and Exchange Commission (SEC) has been at the center of attention recently. Additionally, its chief, Gary Gensler, is set to testify before the House Financial Services Committee on April 18.

Patrick McHenry, the chairman of the Financial Services Committee, made the announcement. He said that Gary Gensler will be put in front of HFSC and face a number of questions regarding his approach toward the crypto industry.

Gary Gensler is known for his public statements on his skepticism about cryptocurrencies, and the community always has something to say against him.

One of Gensler’s number one critics, Warren Davidson, reacted in a tweet right after the announcement. He called for ‘Fire Gary’ to become a bipartisan movement.

The HSFC chairman, McHenry, said that he wants to give Gary Gensler more congressional oversight than he has had in the past.

“This will be our first oversight hearing of the Securities and Exchange Commission. This will be about his rulemaking and his approach to digital assets. It will have a large general oversight over the SEC. In terms of policy, [this will be] a serious approach in terms of us laying down […] a regulatory sphere for digital assets.”