House Passes Landmark Crypto Regulation Bill
SEC Chair Gary Gensler insists existing laws are sufficient to regulate the crypto industry, opposing the White House and other agencies' push for new legislation like the Financial Innovation and Technology for the 21st Century Act (FIT21). While Gensler argues that the crypto industry's issues stem from non-compliance with current laws, other regulators and lawmakers believe new rules are necessary to address gaps in oversight, particularly in the crypto spot markets.