Home Cryptocurrency SEC’s Gensler Says House Bill Would ‘Undermine’ Regulator’s Crypto, Capital Markets Oversight

SEC’s Gensler Says House Bill Would ‘Undermine’ Regulator’s Crypto, Capital Markets Oversight

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According to Gensler, FIT21 ignores long-standing precedent for how investment contracts are regulated, puts the agency into a tough position for certifying self-proclaimed digital commodity issuers, ignores Supreme Court precedent in the Howey Test, removes investor protections and potentially allows investors to take on excessive risk without appropriate disclosures.

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