{"id":164419,"date":"2023-09-28T15:07:32","date_gmt":"2023-09-28T09:37:32","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=164419"},"modified":"2023-09-28T15:07:32","modified_gmt":"2023-09-28T09:37:32","slug":"what-next-as-sec-chair-maintains-his-tough-stance-on-crypto-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/what-next-as-sec-chair-maintains-his-tough-stance-on-crypto-crypto-news\/","title":{"rendered":"What next as SEC chair maintains his tough stance on crypto &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"single-post-author-top\">\n<p>\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" data-del=\"avatar\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/03\/WhatsApp-Image-2023-03-06-at-10.49.07-AM-e1678080944490-80x80.jpeg\" class=\"avatar pp-user-avatar avatar-48 photo \" height=\"48\" width=\"48\" \/><\/p>\n<p>Journalist<\/p>\n<\/p><\/div>\n<p>\t\t\t\t\t\t\t\t<span class=\"mvp-post-date updated\">Posted: September 28, 2023<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span><\/p>\n<\/p><\/div>\n<div>\n<p>\t\t\t\t\t\t<br style=\"clear: both;float: none\" \/><\/p>\n<ul>\n<li data-pm-slice=\"1 1 []\"><em>Gary Gensler took a firm stance on crypto regulation and Bitcoin ETFs.<\/em><\/li>\n<li data-pm-slice=\"1 1 []\"><em>Bitcoin maintained stability amid regulatory discussions.\u00a0<\/em><\/li>\n<\/ul>\n<p>The regulatory landscape surrounding Bitcoin has been a topic of intense debate and scrutiny. The latest chapter in this ongoing saga unfolds as Gary Gensler, the Chair of the U.S. Securities and Exchange Commission (SEC), delivered noteworthy remarks during a congressional hearing.<\/p>\n<hr \/>\n<p style=\"text-align: center\">Read Bitcoin\u2019s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/predictions\/bitcoin-price-prediction\" data-wpel-link=\"internal\">Price Prediction 2023-2024<\/a><\/p>\n<hr \/>\n<h4>Taking shots<\/h4>\n<p>Gensler\u2019s statements reaffirmed his stance on cryptocurrencies, particularly taking aim at what he referred to as crypto \u201chucksters.\u201d He accused companies in the digital assets space of mishandling customer assets and criticized the practice of commingling assets, which, in his view, has led to unfavorable outcomes.<\/p>\n<p>One of the most critical issues discussed was the SEC\u2019s position on spot Bitcoin exchange-traded funds (ETFs). Gensler disclosed that the agency has yet to determine its course of action following a judge\u2019s ruling that mandated a reevaluation of its stance on Bitcoin ETFs.<\/p>\n<p>This ruling, delivered in August, cast doubt on the SEC\u2019s prior rejection of Bitcoin ETF applications, deeming it \u201carbitrary and capricious.\u201d Gensler\u2019s testimony, however, did not divulge details on the timing or the approach SEC would take for ETF applications.<\/p>\n<p>Rep. Patrick McHenry, Chairman of the House Financial Services Committee, expressed concerns about the SEC\u2019s legal battles and criticized what he referred to as the agency\u2019s \u201ccrusade against the digital assets ecosystem.\u201d<\/p>\n<p>He contended that the SEC\u2019s actions were sowing confusion and causing lasting harm within the industry. Gensler, during questioning, clarified that Bitcoin does not fall under the category of a security.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udc49 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SECGov?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\">@SECGov<\/a> Chair <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/GaryGensler?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\">@GaryGensler<\/a> continues his blatant disregard for Congress in pursuit of a radical agenda that threatens the integrity of our financial markets, protection of investors, &amp; our economic competitiveness. Our patience is wearing thin.<\/p>\n<p>\ud83d\udcfa <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/WATCH?src=hash&amp;ref_src=twsrc%5Etfw\" data-wpel-link=\"external\">#WATCH<\/a> my opening remarks \u2b07\ufe0f <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/MTJIdNaBGD\" data-wpel-link=\"external\">pic.twitter.com\/MTJIdNaBGD<\/a><\/p>\n<p>\u2014 Patrick McHenry (@PatrickMcHenry) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PatrickMcHenry\/status\/1707053548897276216?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\">September 27, 2023<\/a><\/p>\n<\/blockquote>\n<p>These developments have the potential to significantly impact sentiments within the Bitcoin community and among investors. Gensler\u2019s persistent critique of how crypto companies handle customer funds and the ongoing uncertainty regarding Bitcoin ETFs may contribute to regulatory apprehensions.<\/p>\n<h4>BTC remains relatively the same<\/h4>\n<p>Nonetheless, at the time of reporting, the king coin\u2019s price stood at $26,366, indicating a 0.41% increase over the previous 24 hours. This stability in price amidst regulatory discussions may indicate that investors remain cautiously optimistic about Bitcoin\u2019s future.<\/p>\n<div id=\"attachment_347015\" style=\"width: 2570px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-10.27.54-28-Sep-2023.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-347015\" class=\"wp-image-347015 size-full\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"\" width=\"2560\" height=\"867\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-10.27.54-28-Sep-2023.png 2560w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-10.27.54-28-Sep-2023-300x102.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-10.27.54-28-Sep-2023-1024x347.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-10.27.54-28-Sep-2023-768x260.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-10.27.54-28-Sep-2023-1536x520.png 1536w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-10.27.54-28-Sep-2023-2048x693.png 2048w\" data-lazy-sizes=\"(max-width: 2560px) 100vw, 2560px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-10.27.54-28-Sep-2023.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-347015\" class=\"wp-image-347015 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/Bitcoin-BTC-10.27.54-28-Sep-2023.png\" alt=\"\" width=\"2560\" height=\"867\" \/><\/a><\/p>\n<p id=\"caption-attachment-347015\" class=\"wp-caption-text\">Source: Santiment<\/p>\n<\/div>\n<hr \/>\n<p style=\"text-align: center\">Is your portfolio green?<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/bitcoin-profit-calculator\" data-wpel-link=\"internal\"> Check out the BTC Profit Calculator<\/a><\/p>\n<hr \/>\n<p>Long-term holders of Bitcoin continue to demonstrate their unwavering support for the cryptocurrency.<\/p>\n<p>Reflexivity Research\u2019s findings revealed that the percentage of Bitcoin supply held by these committed investors is approaching levels not witnessed since late 2015. The finding underscored the enduring confidence among BTC long-term investors.<\/p>\n<div id=\"attachment_347016\" style=\"width: 1309px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/F7D6jg-WUAA4HP3.jpeg\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-347016\" class=\"wp-image-347016 size-full\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"\" width=\"1299\" height=\"731\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/F7D6jg-WUAA4HP3.jpeg 1299w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/F7D6jg-WUAA4HP3-300x169.jpeg 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/F7D6jg-WUAA4HP3-1024x576.jpeg 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/F7D6jg-WUAA4HP3-768x432.jpeg 768w\" data-lazy-sizes=\"(max-width: 1299px) 100vw, 1299px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/F7D6jg-WUAA4HP3.jpeg\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-347016\" class=\"wp-image-347016 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/F7D6jg-WUAA4HP3.jpeg\" alt=\"\" width=\"1299\" height=\"731\" \/><\/a><\/p>\n<p id=\"caption-attachment-347016\" class=\"wp-caption-text\">Source: Reflexivity Research<\/p>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Journalist Posted: September 28, 2023 Gary Gensler took a firm stance on crypto regulation and Bitcoin ETFs. Bitcoin maintained stability amid regulatory discussions.\u00a0 The regulatory landscape surrounding Bitcoin has been a topic of intense debate and scrutiny. The latest chapter in this ongoing saga unfolds as Gary Gensler, the Chair of the U.S. Securities and [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":164420,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-164419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/164419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=164419"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/164419\/revisions"}],"predecessor-version":[{"id":164425,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/164419\/revisions\/164425"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/164420"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=164419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=164419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=164419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}