Securities and Exchange Commission Chair Gary Gensler appeared before a key Senate committee on Thursday.
If crypto market oversight is split between federal regulators, it could undermine securities rules, according to Securities and Exchange Commission Chair Gary Gensler.
“If we end up that there’s multiple federal agencies defining what a security is, and another agency tries to define it, it could undermine what we’re doing,” said Gensler. The SEC chair's comment came while Gensler's response came to questioning from Senate Banking Committee Chair Sherrod Brown about financial markets regulators coordinating oversight, with crypto being a particularly tricky area.
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