Gary testifies tomorrow before the HFSC regarding oversight of the SEC

The hearing was announced by House Financial Services Committee chairman Patrick McHenry (NC-10).

Not getting my hopes up that this will go the way many might expect, but I do agree with the congressman’s stance as quotes below:

“For years, I have advocated for Congress to develop a clear regulatory framework for the digital asset ecosystem, including trading platforms,”

“The recent events show the necessity of Congressional action. It’s imperative that Congress establish a framework that ensures Americans have adequate protections while also allowing innovation to thrive here in the U.S. I look forward to learning more from FTX and Binance in the coming days about these events and the steps they will take to protect customers during the transition.”

Hopefully this hearing is a congressional ‘confrontation’ and leads to some real clarification from the SEC. The hearing will be live-streamed on YouTube at 10AM ET.

Announcement: https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=408689

Livestream: https://www.youtube.com/live/DmipafFCli0?feature=share