Gary Gensler to Appear Before Congress

 

Hi everybody! I hope to see some positive development soon. In September, the head of the SEC will have hearings in two congressional committees. This was reported by Fox Business journalist Eleanor Terrett.

 

The topic of the hearings has not been made public but it's clear that the crypto industry will become the main one. When a state-appointed body loses two court cases in a row in a certain area, legislators are entitled to ask why this happens.

 

Surely questions will be asked about spot bitcoin ETFs, it will be interesting to hear how Gensler argues for the pressure of his department on the crypto market.

 

The political aspect of the upcoming "conversations" should not be discounted either. As I said earlier: cryptocurrency could be one of the main topics of the upcoming elections.

 

Judge for yourself: according to surveys as of February this year, 20% of the US adult population (more than 50 million people) owns cryptocurrencies. At the same time 22% identify themselves as Democrats, and 18% as Republicans.

 

The rest have not made up their mind yet and the vast majority of them are young people who have grown up with the Internet. They are already different, they have their own world. They are not particularly interested in politics, but in cryptocurrencies - yes!

 

Judging by the first debate, the Republicans are mostly for crypto, while the Democrats are much more careful in this matter. An interesting collision - conservatives are for change and liberals are against it.

 

Given the huge electorate involved in the crypto market the Democrats will probably have to soften their rhetoric in relation to it. Whether this is so, we will find out in September during the hearings.

  

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