Congressional Republicans Grill SEC Chair Gensler on Crypto and Climate Change Policies.
Republicans on the House Financial Services Committee criticized SEC Chair Gary Gensler's approach to crypto companies ahead of a congressional hearing, arguing that his approach was not "compatible" with existing law. They claimed that national securities exchange regulations are a poor fit for digital assets because cryptocurrencies can be used for noninvestment purposes. Gensler is set to testify before the committee on Tuesday, and a subcommittee will hold a more crypto-specific hearing on stablecoins on Wednesday.