Pat Toomey, one of the US politicians who works on making regulations without victimizing crypto-focused companies, sharply criticized Gary Gensler, the head of the US Securities and Exchange Commission (SEC).
“Forced regulation is terrible…”
Speaking to Fox News from the US media, Pennsylvania Senator Toomey stated that Gary Gensler made aggressive moves and used the following statements:
“I am concerned that Gary Gensler is pushing the boundaries on issues that go beyond the SEC’s authority. The ‘disclosure requirement’ proposal on climate, in my opinion, exceeds the SEC’s responsibilities by a large margin. It is also unacceptable to consider all crypto assets as securities and not give any explanation as to how or why this happened. Forced regulation is a terrible approach.”
As it is known, Gensler, who was stated to have a crypto money-friendly identity before he became the chairman of the SEC, was welcomed by the industry. However, after coming to the presidency, Gensler, who started to make harsh statements about cryptocurrencies, was absolutely against the spot Bitcoin ETF and demanded that the entire crypto money industry be regulated by the SEC, also confronted many crypto-focused companies.
Risk Disclosure: The articles and articles on Arover.net do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies.