SEC Chair Gary Gensler Opposes FIT21 Crypto Market Bill

Wednesday, 22 May 2024, 11:57

SEC Chair Gary Gensler publicly opposes the FIT21 Act, arguing it could weaken SEC oversight and endanger investor protection. The bill faces significant opposition in the House, with concerns about its impact on crypto regulation and US capital markets.

https://store.livarava.com/9fcfb027-1833-11ef-a3d1-9d5fa15a64d8.png — SEC Chair Gary Gensler Opposes FIT21 Crypto Market Bill

SEC Chair Criticizes FIT21 Act for Reducing Regulatory Oversight

SEC Chair Gary Gensler has expressed strong opposition to the FIT21 Act, arguing that it undermines the classification of crypto assets and weakens SEC oversight, potentially leaving significant portions of the crypto market unregulated. He has raised concerns about the bill's definition of digital commodities and its implications for investor protection.

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