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.
[reamdore id=”137393″]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.
Coinbase has emerged as the best-performing stock in the S&P 500 for June, climbing 43% amid a surge of bullish momentum driven by regulatory clarity, product innovation, and deeper institutional interest in crypto.
Coinbase CEO Brian Armstrong has spotlighted a significant acceleration in institutional crypto adoption, driven largely by the surging popularity of exchange-traded funds and increased use of Coinbase Prime among major corporations.
The latest market turbulence, fueled by geopolitical tensions and investor fear, offered a textbook case of how sentiment swings and whale behavior shape crypto price action.
Jefferies chief market strategist David Zervos believes an upcoming power shift at the Federal Reserve could benefit U.S. equity markets.