The Securities and Exchange Commission (SEC) Chairman Gary Gensler is set to testify before Congress twice in September, once before the Senate Banking Committee and later the House Financial Services Committee. This follows criticism from lawmakers, particularly Republicans, who have accused Gensler of taking an overly aggressive approach to digital asset regulation without providing explicit guidelines.Rep. Patrick McHenry, ranking member of the House Financial Services Committee, has expressed concern over the lack of clear regulatory guidelines for digital assets in the United States. Gensler has maintained his stance that most cryptocurrencies are securities and should be regulated as such.The recent approval of Prometheum Ember Capital LLC as a distinct broker-dealer for digital assets has also attracted criticism and demands for transparency. Prometheum’s approval has been viewed by some as an attempt to demonstrate the adequacy of existing regulations for the digital assets sector, but its connections with Chinese entities and differing views on regulation have sparked concerns and calls for further scrutiny by lawmakers.

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Information	Details
Geography	North America
Countries	🇺🇸 🇨🇳
Sentiment	neutral
Relevance Score	8
People	Patrick McHenry, Eleanor Terrett, Prometheum Ember Capital LLC, Gary Gensler
Companies	Securities and Exchange Commission (SEC), Senate Banking Committee, House Financial Services Committee, Prometheum Ember Capital LLC, Rep. Patrick McHenry
Currencies	None
Securities	None