Senator Pat Toomey of Pennsylvania, one of the senior members of the Senate Banking Committee, recommended that Congress intervene in legislation when the Securities and Exchange Commission (SEC) cannot provide sufficient guidance on cryptocurrencies.
In Friday’s announcement by the Senate Banking Committee, Tumi Said He was dissatisfied with the answers provided by SEC Chairman Gary Gensler on the difference between securities and commodities in terms of token projects and stablecoins. The senator questioned what appeared to be differences in the SEC’s enforcement actions between crypto companies and consulting services companies, including similar allegations made by Glass Lewis of providing “fraudulent and misleading information.”
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