Hester Peirce admits SEC’s flawed crypto regulation approach, as Congress scrutinizes Gary Gensler’s enforcement actions.

U.S. SEC chair Gary Genser has appeared before the House Financial Services Committee in a hearing titled “Oversight of the Securities and Exchange Commission." A hearing memo issued by the Committee on Financial Services Staff on September 19th revealed that the financial watchdog has not clearly defined digital assets as securities.

Depending on whom you ask, the SEC’s oversight of digital assets has been either overreaching or underwhelming. Today, the House Financial Services Committee took the regulator’s boss to task.

Crypto users are looking forward to Gary Gensler's appearance at a House hearing Tuesday, where a lawmaker has hinted that the SEC chair will ultimately be grilled.