The House Financial Services Committee held a hearing with SEC Chair Gary Gensler as the witness, discussing the regulation of cryptocurrencies. The main focus was on Bitcoin and Ether, with questions about their classification as securities or commodities. Gensler avoided directly answering whether Ether is a security, which raised concerns about regulatory clarity. Some experts believe Gensler wants to bring cryptocurrencies under SEC jurisdiction and slow down the industry’s rapid growth. There are ongoing debates about the need for legislation and the type of policy that would benefit all stakeholders in the cryptocurrency ecosystem.
AI Sentiment: Negative
