US SEC Chairman: Multiple Cryptocurrency Regulators May 'Break' Securities Rules

According to The Block, Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), said at the Senate Banking Committee's regular oversight hearing on his agency that multiple federal agencies that regulate securities may "undermine" market regulation. Having a supervisor is very important. Nonetheless, Gensler emphasized that if Congress grants the CFTC greater authority over cryptocurrencies, he will continue to work with the committee, which has jurisdiction over Sen. Debbie Stabenow's proposed bill to give the CFTC more power in the digital asset market. Right to the Senate Agriculture Committee for consultation. the