GBTC could soon be scrutinized by the U.S. SEC as Rep. Brad Sherman urges Commission chair Gary Gensler to look into the firm's actions and safeguard funds trapped under the investment vehicle.
Stablecoins were front and center in the House of Representatives' Financial Services Committee hearing last Wednesday, and some of the opinions voiced were more than a little unstable.
Gary Gensler took a jab from Rep. Patrick McHenry after claiming that the 'crypto' market is noncompliant with the law, with the latter saying that the SEC hasn't even clarified the statute of digital assets.
Gubir Grewal, director of enforcement at the U.S. Securities and Exchange Commission, appeared before a House Subcommittee where he faced questions over the SEC’s lack of enforcement against digital currency sector’s biggest crooks.
There were differing opinions by congressmen on the usability and security of cryptocurrencies. California Rep. Brad Sherman was very direct and dissing about the industry, which he described as “popular with guys who like to sit in their pajamas.”
