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What will be the next major action taken by the SEC regarding crypto regulations by the end of 2024?
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SEC•Gary Gensler•Republican•House Financial Services Committee•Patrick McHenry•Cynthia Lummis•Republicans•Staff Accounting Bulletin 121•McHenry•Gensler•Tom Emmer•Hester Peirce
Resolution / Starting Odds
Introduce new regulations • 25%
Modify existing regulations • 25%
Rescind existing regulations • 25%
No major action • 25%
Official SEC announcements or major news outlets
Story
SEC Chair Gensler Faces GOP Scrutiny Over SAB 121 at Sep 24-25 Hearing
Sep 24, 2024, 02:30 PM
SEC Chair Gary Gensler is facing significant scrutiny from Republican lawmakers during a House Financial Services Committee oversight hearing on Sep 24-25. Led by Rep. Patrick McHenry and Sen. Cynthia Lummis, Republicans have demanded the rescission of Staff Accounting Bulletin 121 (SAB 121), which requires entities to recognize digital assets as liabilities, amid bipartisan, bicameral opposition. McHenry has labeled the SEC a 'rogue agency,' criticizing its regulatory approach and lack of clarity on crypto assets. During the hearing, Gensler was grilled over his handling of crypto regulations, with GOP Majority Whip Tom Emmer calling him the 'most destructive and lawless Chairman of the SEC.' Hester Peirce, another SEC Commissioner, also expressed concerns about the agency's ambiguous regulatory stance.
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Introduction of new regulations • 25%
Issuance of new guidelines • 25%
Filing of new lawsuits • 25%
Other • 25%
New lawsuit against another exchange • 25%
New regulations for crypto assets • 25%
Settlement with another major exchange • 25%
Other • 25%
Issue new regulations • 25%
Classify tokens as non-securities • 25%
Both • 25%
Neither • 25%
New regulations • 25%
New investigations • 25%
Settlement agreements • 25%
Jurisdiction clarification • 25%
Rescind SAB 121 • 25%
Amend SAB 121 • 25%
Maintain SAB 121 • 25%
Introduce new regulations • 25%
Increased regulations • 25%
Decreased regulations • 25%
No significant change • 25%
Other • 25%
Yes • 50%
No • 50%
Stricter Regulations • 25%
Looser Regulations • 25%
Status Quo Maintained • 25%
Undefined • 25%
Significantly eased • 25%
Moderately eased • 25%
No change • 25%
Increased regulation • 25%
Major rollback • 25%
Minor adjustments • 25%
No change • 25%
Increased regulation • 25%