SEC Chairman’s Speech Text Has Been Published! What Does It Say About Cryptocurrencies? What time will the speech start?

Bitcoin Investors and markets are struggling to maintain the $26,000 level SEC Chairman Gary GenslerIt follows today’s statement of .

For SEC Chairman today THe will testify before the House Financial Services Committee at 5 p.m. ET.

RippleGensler, who made his first speech before the US banking committee after ‘s victory against the SEC, of cryptocurrencies does not give up the view that the majority are securities.

According to the text of the speech presented to the committee, Gensler will say the following:

“As I said before, without prejudice to any particular token, the vast majority of cryptocurrencies meet securities requirements.

Given that most crypto tokens are subject to securities laws, it becomes clear that most crypto instruments must also comply with securities laws.

Securities laws have been around and enforced for a very long time. At this point, there appears to be a wide-ranging incompatibility between the cryptocurrency industry and securities laws.

Given this incompatibility, it is not surprising that we encounter many problems in the cryptocurrency markets.

We’ve seen this happen before. This situation is reminiscent of what we experienced in the 1920s before the federal securities laws were enacted.

“That is why we have filed a series of enforcement actions, some of which have been resolved and some of which are in litigation, to hold wrongdoers accountable and promote investor protection.”

SEC chairman in published statement Binance and CoinbaseReferring to the lawsuits filed against and closely followed by the industry “While I am happy to discuss the SEC’s work, I will not be able to comment on any active and ongoing litigation.” said.

While there is nothing new in this statement of the SEC chairman, it seems that he will face criticism from Patrick McHenry, Chairman of the House Financial Services Committee, for his approach to regulating the crypto sector.