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The Chairman Of SEC Is Not Pleased With The New Crypto Legislation

According to a Tuesday report by the Wall Street Journal, Chairman of the Securities and Exchange Commission Gary Gensler is not pleased with Senators Kirsten Gillibrand (D-NY) and Cynthia Lummis’ new bitcoin bill (R-WY).

The Chairman Of SEC Is Not Pleased With The New Crypto Legislation

According to the head of the securities regulator, the ambitious legislation may have a negative influence on the larger capital market.

According to the story, Gensler expects to continue discussing his reservations about the bill with lawmakers.

Gensler – SEC has previously expressed his worries about BTC exchanges

The Chairman Of SEC Is Not Pleased With The New Crypto Legislation

The bill presented by Senators Gillibrand and Lummis in early June would categorize the vast majority of bitcoins as commodities. The Commodity Futures Trading Commission (CFTC), which is more tolerant toward the industry, would be in charge of crypto.

Customers will be protected, and stablecoin issuers will face stricter obligations, according to the much-anticipated measure.

The bill is unlikely to succeed this year since it would have to pass through many key committees before the Senate could vote on it in its entirety.

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Annie

CoinCu News

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

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