US Congressman: SEC has turned cryptocurrency regulation into a "political football"
2024-05-16 01:36:57
In a letter to Gary Gensler, chairperson of the Securities Exchange Commission, U.S. Representative Wiley Nickel said that the U.S. securities regulator has turned cryptocurrency regulation into a "political football" and that its "open hostility" will not help President Biden. Nickel claims that this will prevent Bank of America from large-scale custody of cryptocurrency exchange-traded products, which creates "concentrated risk" by handing more control to non-bank entities.
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