Ethereum Debate in the US Congress! Here are Gensler’s Explanations!

SEC Chairman Gary Gensler He spoke before the House of Representatives Financial Services Committee.

The session began with the senators’ introductory speech, Patrick McHenry, chairman of the House Financial Services Committee, presented the SEC and chairman Gensler. cryptocurrencyHe criticized it for not providing enough regulatory clarity on the issues and for choosing to regulate the industry through sanctions.

Here are the highlights of Gensler’s speech:

You should not underestimate the 1-SEC rules.

2-The technology that I think has transformed our time is not cryptocurrencies, which we are discussing here today, but artificial intelligence technology.

3-Cryptocurrencies have to comply with the same laws as stock markets.

4-Gensler reaffirmed his usual crypto stance, saying that the vast majority of crypto assets are securities, so platforms that offer cryptocurrency trading services must comply with commission rules.

Genlsler answered the committee chair’s question that an asset is open to both a security and a commodity, do you agree with that? “Actually all securities are commodities under the CFTC law. That’s why we exclude commodities.” said.

your president Ethereum (ETH) To his specific question about whether it is a commodity or not, the SEC Chairman could not give a clear answer.

Gensler’s speech continues. We will update the news periodically.