• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: DOJ's Largest Bitcoin Seizure: $15 Billion In BTC Linked To Cambodian 'Pig Butchering' Scam
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: DOJ's Largest Bitcoin Seizure: $15 Billion In BTC Linked To Cambodian 'Pig Butchering' Scam
SEC

Why SEC Chair Gary Gensler Was Grilled During Senate Crypto Inquiry

Christian Encila
by Christian Encila
3 years ago
·
Posted in Crypto News, SEC
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

On Thursday, U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler spoke before the Senate Banking Committee to defend the agency’s stance on cryptocurrencies and its efforts to include climate risks in public company reports.

Pennsylvania Senator Pat Toomey has criticized the SEC for its lack of a crypto regulatory framework. calling out Gensler for failing to recognize that cryptocurrencies are distinct from traditional investment products like bonds and stocks.

Almost all crypto offerings today, according to Gensler, meet the criteria for a traditional security and, as such, should be registered and regulated.

The head of the regulatory body argued his case to an SBC full of doubters, who questioned his claim that Bitcoin acts more like a commodity and most tokens are more like conventional equities.

Related Reading: Celsius Meeting Audio Leaked – Why Staffers Are Reacting With Mistrust

Are SEC And Gensler Hostile Against Financial Industry?

Republican displeasure with Gensler’s agenda is a backdrop to the panel’s routine supervision of his work. He has been accused of going too far by the SBC members who say he has taken a hostile position toward the financial industry and launched a sweeping attack on the U.S. capital markets.

Republican leader on the SBC, Toomey, argued that the commission wasn’t performing its job properly because of the unique characteristics of digital currencies like Bitcoin.

SEC Chair Gary Gensler. Image: Business Insider.

Toomey explains that crypto tokens may be settled in real time without middlemen, have variable degrees of decentralization, and normally have no financial hold on the issuer.

The senator also implied the commission has not been as forthright as it should be in its endeavors to enforce securities regulations that may apply to cryptocurrencies. The biggest problem, according to Toomey, is that “the SEC isn’t sharing with us the structure they’re utilizing.”

Another Senator Dismayed By Gensler 

Minnesota Republican Congressman Tom Emmer expressed displeasure with the SEC’s “unethical” treatment of cryptocurrency firms last July. He stated that Gensler “baits and threatens” companies.

The U.S. is actively working on a framework for crypto rules. One contentious issue is deciding between the agency and the Commodity Futures Trading Commission as the appropriate regulator.

As anticipated by Senate legislation, CFTC chief Rostin Behnam disclosed that he has already given the green light to his agency to start preparing to be the lead regulator for a substantial chunk of the bitcoin market.

Gensler maintained throughout the inquiry that the Supreme Court has already decided what constitutes a security and that most tokens pass a well-established multifactor test.

However, Toomey and other opponents of the SEC’s approach find that explanation wanting.

Related Reading: https://bitcoinist.com/bitcoin-payment-solution-in-pilot-by-bcb/

Crypto total market cap at $925 billion on the daily chart | Source: TradingView.com

Featured image from Fox Business, Chart: TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Christian Encila

Christian Encila

Follow

Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Full Profile

Related Posts

Bolivia

Bolivia’s New Leader Declares War On Corruption With Blockchain

1 hour ago
crypto, South Korea, stablecoin, stablecoins

South Korea’s FSC To Prohibit Stablecoin Interest Payments In Upcoming Framework

2 hours ago
Gemini預測將翻10倍的山寨幣:XRP、Pi Network與Hyper吸引鯨魚資金流入

Gemini預測將翻10倍的山寨幣:XRP、Pi Network與Hyper吸引鯨魚資金流入

3 hours ago
bitcoin_btc_btcusd_optimized

Japan to Ease Crypto Rules, Banks Could Soon Trade or Store Bitcoin Under FSA Proposal

4 hours ago
比特幣ETF即時新聞:單日淨流出逾5.36億美元動態更新(10月21日)

比特幣ETF即時新聞:單日淨流出逾5.36億美元動態更新(10月21日)

4 hours ago
Cuomo

Crypto Becomes Andrew Cuomo’s Ticket Back Into NYC Politics

10 hours ago
Please login to join discussion

Premium Sponsors

Press Releases

  • โปรโมชั่นโบนัสสำหรับผู้ใช้ใหม่จาก KCEX แจกสูงสุด 21,000 USDT

    KCEX จัดหนัก!...

    12 hours ago
  • WEEX стартира кампания с до 50%...

    15 hours ago
  • FleetMining Turns BTC, XRP, and ETH into Daily Income

    FleetMining Turns BTC, XRP, and ETH into Daily Income with...

    22 hours ago
  • CryptoGDEX Launches Global Petition to Revolutionize Wealth Distribution

    CryptoGDEX Launches Global Petition to Revolutionize Wealth...

    22 hours ago
  • Цената на Solana

    Прогноза на ChatGPT за цената на Solana...

    4 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.