SEC Chair Gary Gensler attended a House hearing, where he was slammed for "choking off" the digital asset sector, quizzed about BTC, spot ETPs, and ongoing court cases against exchanges.
The U.S. House Financial Services Committee has approved the CBDC Anti-Surveillance State Act, which will now be put before the House of Representatives.
While there is a growing list of nations exploring and launching their CBDCs, the U.S. remains negative about creating its own, with officials citing risks to privacy, freedom, and cybersecurity.
The Government Accountability Office says these gaps create risks for investors as no regulator has the authority to oversee tokens that aren’t securities—it wants interagency cooperation.
The hearing is part of renewed attempts by lawmakers to reach a consensus on a bill that would address stablecoin regulation after earlier attempts broke down.
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.
