Gary Gensler, the newly-named chairman of the Securities and Exchange Commission, is asking Congress to make some key decisions around crypto regulation.
While testifying during a May 6 hearing of the House Financial Services Committee on market volatility surrounding GameStop and other meme-ified securities, Gensler fielded a question from Ranking Member Patrick McHenry about concrete steps “to further the crypto market.”
“This market, which is close to $2 trillion, [the] crypto-asset market, is one that could benefit from greater investor protection,” Gensler commented, remarking:
“I do think that working with Congress, and I think it’s only Congress that can really address it, it would be good to consider…whether to bring greater investor protection to the crypto exchanges. And I think if that were to be the case, because right now, the exchanges trading in these crypto-assets do not have a regulatory framework either at the SEC or at our site agency, the [CFTC], that could
