US Senator Bill Hagerty Urges SEC To Provide Clarity On Crypto Regulation

According to Odaily, US Senator Bill Hagerty has expressed his intention to push the US Securities and Exchange Commission (SEC) to provide clarity on cryptocurrency regulation. He believes that the industry requires a proper ecosystem, or else it risks pushing cryptocurrencies outside of the US. However, SEC Chairman Gary Gensler countered this argument, stating that violating laws and disliking them are different from a lack of clarity. Hagerty argued that there is still a lot of uncertainty and ambiguity in the SEC's actions, but he emphasized that this 'does not need to be the case'. He is advocating for clear guidelines to ensure the growth and stability of the cryptocurrency industry within the United States. His concerns stem from the potential risk of pushing the burgeoning crypto industry to regions outside the US due to unclear regulations. On the other hand, Gensler, the SEC Chairman, has a different viewpoint. He argued that the issue is not about the lack of clarity but rather about the violation and dislike of existing laws. He believes that the current regulations are clear enough and that the industry should adhere to them. This debate highlights the ongoing discussions and differing viewpoints within the US government regarding the regulation of the fast-growing cryptocurrency industry. The outcome of these discussions will have significant implications for the future of cryptocurrencies in the United States.