French Hill : “SEC's approach to regulating crypto firms will only confuse markets”

During a hearing on the Securities and Exchange Commission (SEC) held by the U.S. House of Representatives' Financial Services Committee on March 18 (local time), Congressman French Hill criticized SEC Chairman Gary Gensler's approach to regulating cryptocurrency companies, saying that it is causing confusion and uncertainty in the market. “The SEC's regulatory actions against crypto companies amount to enforcement abuse,” French Hill said, according to Cointelegraph. ”We oppose these SEC enforcement abuses. It hinders innovation and technology adoption by companies and markets that are trying to play by the rules.”

Meanwhile, U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler told CNBC, “We will continue to protect investors. The cryptocurrency space is rife with fraudsters,” and ”cryptocurrency exchanges must comply with existing regulations.”