Yesterday, Powell’s statements on inflation and interest rate hikes bitcoinIt had increased volatility.
Statements from the USA on interest rates and cryptocurrencies have a direct impact on the market. The low risk appetite plays a major role in this vulnerability.
Gary Gensler, Chairman of the US Securities and Exchange Commission, who previously caused short-term dumps in Bitcoin with his statements on cryptocurrencies, will attend a session in the Parliamentary Subcommittee on Financial Services today at 17:00.
Gensler, reiterating his call to increase the legal regulations regarding financial markets at every opportunity, will answer the questions of several Assembly members who are not satisfied with this approach.
Gensler is expected to speak on many topics. According to CNBC’s report, cryptocurrencies will also be among the topics to be discussed.
Some Councilors are outraged that Gensler has endorsed the Bitcoin Futures ETF but not the spot Bitcoin ETF.
During the session, Gensler is expected to maintain his cautious approach to crypto.
If a question is asked on this subject, it is expected to remind the need for more regulation by drawing attention to the grievances experienced around the IHR in recent days.
Gensler signaled that the position will be in this direction, and said that “the volatility in the crypto markets in recent weeks highlights the risks to the investing public.”
Gensler’s speech is expected to begin at 17:00.
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