Congressman Criticizes SEC Chair Gensler Over Bitcoin Regulations

U.S. Congressman Warren Davidson has vocally criticized SEC Chair Gary Gensler, accusing the SEC of deliberately hindering Bitcoin ownership.

Davidson emphasized the substantial consumer interest in Bitcoin, which he noted has amassed over a trillion dollars.

JUST IN: 🇺🇸 US Congressman Warren Davidson says Gary Gensler and the SEC “has willfully undermined the ability to custody” #Bitcoin

“It’s over a trillion dollars just for Bitcoin…clearly lots of consumers find value in this space.” 👀

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— Bitcoin Magazine (@BitcoinMagazine) September 18, 2024

His remarks reflect increasing frustration within the cryptocurrency community regarding regulatory actions.

As Bitcoin sees notable price fluctuations, this criticism underscores the growing discord between lawmakers and regulatory agencies, particularly as Bitcoin’s market strength becomes increasingly apparent.

Currently, Bitcoin is priced at $63,300, marking a 9.3% increase over the past 7 days. The trading volume reached $42.1 billion, and the market cap stands at approximately $1.25 trillion.

Historically, Bitcoin has struggled in September, but it has surged over 8% this month, fostering optimistic expectations for Q4.