TechFlow reports that U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler will appear Tuesday before the Senate Banking Committee for a hearing. He continues to assert that cryptocurrencies must comply with the same laws as other securities, and that many cryptocurrencies fall within the SEC's jurisdiction.
In prepared remarks released Monday, he said: "Given the widespread noncompliance with securities laws in this industry, it's no surprise we see so many problems in the market. It recalls the period before federal securities laws were enacted in the 1920s. As a result, we've brought a series of enforcement actions to hold wrongdoers accountable and promote investor protection—some have resulted in settlements, others in litigation."
