Senate Banking Committee member Bill Hagerty tweeted that with some degree of probability the true targets of the SEC s recent lawsuits may be the intention to expel all cryptocurrency platforms outside the jurisdiction of the United States.
According to the congressman, the SEC is targeting the cryptocurrency industry for the sole purpose of removing possible competitors and clearing the field for the introduction of central bank digital currency (CBDC).
“Gary Gensler has finally revealed his true face and voiced that the Biden administration wants to kill market innovation by paving the way for a CBDC that will give the federal government unprecedented influence over the private lives of citizens,” argues Senator Hagerty.
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The other day, SEC Chairman Gary Gensler gave an
an interview with CNBC, stating that the U.S. doesn’t need crypto-assets because the country already has its own digital dollar.
Earlier, Bill Hagerty and Senator Cynthia Lummis criticized the SEC’s unconstructive approach to regulating the crypto industry, saying the agency suppresses innovation and harms investors.