Fox Business reporter Eleanor Terrett has reported that all five SEC commissioners are scheduled to testify before the U.S. House Committee on Financial Services next Tuesday.
SEC Chairman Gary Gensler is set to appear the following day.
Gensler has faced significant criticism from both the cryptocurrency sector and some crypto-friendly lawmakers for the SEC’s stringent “regulation by enforcement” strategy.
Under his leadership, the SEC has taken aggressive actions against major crypto firms like Coinbase and Binance.
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Critics, including Ripple CEO Brad Garlinghouse, argue that this approach stifles innovation in the U.S. and encourages companies to move to more crypto-friendly regions.
Earlier this year, Gensler was scrutinized by the House Financial Services Committee for failing to clarify the legal status of Ethereum, with Rep. Patrick McHenry accusing him of misleading Congress. Additionally, Republican lawmakers have initiated an investigation into Gensler for alleged misuse of funds.
The SEC has sought a four-month extension in its investigation related to Coinbase, pushing the deadline to February 2024, just after the US presidential election.
DZ Bank, Germany’s second-largest financial institution, has teamed up with Boerse Stuttgart Digital to offer cryptocurrency trading and custody services across its network of cooperative banks.
Charles Hoskinson, founder of Cardano, will meet with Argentina’s President Javier Milei in October to discuss blockchain’s role in shaping future economies.
Binance has seen a sharp rise in interest from institutional and corporate investors, with a 40% increase in participation this year, according to CEO Richard Teng.