crypto exchangePatrick McHenry: SEC Chairman's crusade against the crypto ecosystem is falling apart

Patrick McHenry: SEC Chairman’s crusade against the crypto ecosystem is falling apart

Patrick McHenry, chairman of the Financial Services Committee of the U.S. House of Representatives, expressed his views on Grayscale’s victory in court against the U.S. Securities and Exchange Commission (SEC). He said on social media: “SEC Chairman Gary Gensler’s crusade against the digital asset ecosystem is falling apart under court scrutiny , which is yet another example of why comprehensive regulatory frameworks such as the 21st Century FIT Act must be enacted into law”.

The full name of the 21st Century FIT Act is the “21st Century Financial Innovation and Technology Act”. Jinse Finance once reported that if the bill is passed, it will begin to define the responsibilities of the SEC and CFTC in regulating cryptocurrencies. The bill has so far been approved by two House committees.

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Andrew
Andrew
Self-taught investor with over 5 years of financial trading experience Author of numerous articles for hedge funds with over $5 billion in cumulative AUM and Worked with several global financial institutions. After finding success using his financial acumen to build an investment portfolio, Andrew began writing and editing articles about the cryptocurrency space for sites such as chaincryptocoins.com, ensuring readers were kept up to date on hot topics such as Bitcoin and The latest news on digital currencies and Ethereum.

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