U.S. Senator Pat Toomey says Congress should step in and provide a regulatory framework for cryptocurrency. He stressed that the U.S. Securities and Exchange Commission (SEC) is not sharing its framework for regulating crypto with lawmakers, noting that Chairman Gary Gensler “owes us much more clarity on how and why he intends to apply SEC regulations.”
US Senator Wants Congress to Step in on Crypto Regulation
U.S. Senator Pat Toomey (R-PA), a ranking member of the Senate Banking Committee, discussed cryptocurrency regulation in an interview with Bloomberg Thursday.
Commenting on whether the U.S. Securities and Exchange Commission (SEC) is too slow in regulating cryptocurrency, he opined: “I think the problem is that the SEC isn’t sharing with us the framework that they are using.”
The senator proceeded to reference SEC Chairman Gary Gensler stating that most crypto tokens are securities, stating:
Gary Gensler famously argues that virtually all crypto tokens are securities. I think...
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