From May 6, 2021, in front of the House Committee on Financial Services:
2/ After he was confirmed to his post as Chairman of the SEC, Gensler testified to Congress, on May 6, 2021, that:
THE SEC DOES NOT HAVE AUTHORITY FROM CONGRESS TO REGULATE CRYPTO EXCHANGES.
Watch this 👇 pic.twitter.com/mk48S36FHm
— MetaLawMan (@MetaLawMan) May 3, 2023
You can’t blame the SEC for these kinds of oversights; they only have thousands of employees versus the tens of millions of internet sleuths in crypto.
The Twitter thread from MetaLawMan (a popular crypto attorney) is very informative but do your research and due diligence.
With the war for crypto independence in full swing, traders, investors, and degens alike must treat any information as suspect. 🕵️♂️