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Breaking: SEC Chair Gary Gensler To Appear Before US House Committee

SEC Chair Gary Gensler to appear before the U.S. Congress House Appropriations Committee for budget hearing.
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Breaking: SEC Chair Gary Gensler To Appear Before US House Committee

Gary Gensler, Chairman of the U.S. Securities and Exchange Commission, is set to appear before the U.S. Congress House Appropriations Committee on Wednesday.

The SEC led by Gary Gensler has taken several regulatory actions against companies and people related to crypto. The “regulation by enforcement” against the crypto industry amid heightened scrutiny has been criticized by the industry. The agency has also led the Biden Administration’s highly coordinated plan with regulators to strangle the crypto industry by cutting ties with the banking sector.

Eleanor Terrett in a tweet on March 23 revealed that Gary Gensler is to appear before the House Appropriations Committee for its budget hearing next Wednesday. She further added that this will be Gary Gensler’s first appearance before the House in this congressional session.

The House Appropriations Committee’s calendar also revealed that Gary Gensler, Chair of the U.S. SEC, will attend as a witness before the Financial Services and General Government Subcommittee on March 29 at 2:30 PM. The budget hearing will discuss the budget requirements of the SEC for the fiscal year 2024.

Several factors such as the ongoing banking crisis and the increase in the balance sheet of the Federal Reserve amid efforts to contain the crisis is likely to impact funding for the SEC. The Gary Gensler-led SEC has recently sued Tron founder Justin Sun for selling unregistered securities and sent Wells Notice to Coinbase over securities listing and staking services.

Also Read: Hindenburg Research Exposes Jack Dorsey’s Block Inc

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Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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