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.
Sam Altman’s Worldcoin project continues to gain global traction, recently expanding its World ID verification system to Poland.
Binance has confirmed the leak of its upcoming Telegram mini-app game, Moonbix, ahead of its official launch.
Silvergate Capital Corporation, the parent entity of Silvergate Bank, has entered Chapter 11 bankruptcy proceedings in Delaware.
A new digital asset exchange called TrueX is set to launch, backed by a team of former Coinbase executives and utilizing PayPal’s stablecoin for transactions.