Intro:
Today, the 12th of September 2023 Chairman of the SEC (security and exchange commission) Gary Gensler is set to testify Infront of congress. Gensler has been very obstructive to say the least when it comes to the crypto space failing to classify with any public assertion what cryptos are or are not securities, and just making blanket statements that often hurt the investors in certain projects. Right now the SEC is in many disputes with multiple different organisations when it comes to crypto, most notably Binance charged on the 5th of June with 13 counts (filing) and Coinbase charged on the 6th of June for the sales of unregistered crypto asset securities (filing).
Today’s Hearing:
There is a hearing today the 12th of September where Gary Gensler will testify infront of the Committe on Banking, Housing, and Urban Affairs. He has given a testimony pre hearing, that you can find here!
A good twitter thread I came across yesterday gives some good insights into what will be discussed in a bit more detail:
Conclusion:
Having read the written testimony, we eagerly await the committee hearing as the hopes for investors and speculators a like in this word transformative technology hope to get further clarity for their industry. Here at all in crypto we will be publishing a write up post hearing to help everyone stay up to date with the results of the hearing and key takeaways!
