SEC Chair Gary Gensler is set to testify before the U.S. House Financial Services Committee on April 18, 2023, where he will share his personal views on crypto markets and regulation. In his prepared remarks, Gensler emphasizes that most crypto tokens are considered securities and stresses the importance of compliance with securities laws. He argues that crypto investors should benefit from the same protection as other investors and highlights the current noncompliance in the crypto market, which endangers investors and jeopardizes public trust in capital markets. Gensler notes that the SEC has taken action to address this issue through enforcement actions and rule proposals. He emphasizes that regulation aims to protect U.S. investors and reiterates that Congress has given the SEC a mandate to protect investors, regardless of the labels or technology used.

(By Siamak Masnavi)