Pat Toomey, one of the United States senators from Pennsylvania, criticizes the US Securities Commission (SEC).
In an interview with Bloomberg today, Toomey lamented that the SEC and other public bodies did not provide information on crypto regulation efforts. The Senator also named SEC chairman Gary Gensler. bitcoin and cryptocurrencies In what way the classification method was criticized due to:
“The SEC Chairman doesn’t even know how to compare Bitcoin and cryptocurrencies with other investment products (like stocks, bonds).”
Toomey, SEC’s “Classifying Bitcoin as a security” does not agree with his opinion. According to him, cryptocurrencies are in a completely different situation from other asset classes.
“SEC Does Not Share Information With Us”
Senator Pat Toomey also complains that the SEC has not shared information with them on crypto regulations.
“The SEC does not share its planned regulations with us. Gensler claims that cryptocurrencies are a security. I think this statement doesn’t make sense. Congress should be more active on this issue. Also, Gensler should share the planned arrangements with the senators. No one knows what goes through their minds.”
The MP wants it to be classified differently, as he does not believe cryptocurrencies are a security.
Crypto Regulatory Efforts Continue in the USA
Efforts are underway to regulate cryptocurrencies, which have been on the agenda in the USA in recent months. US President Joe Biden has announced a decree on this issue in the past months. Another financial regulator in the US, the CFTC, announced today that it is continuing its work on cryptocurrency regulation.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!