Crypto bros won't throw off yoke of SEC regulations despite backing Trump

During a discussion about crypto's impact on Trump's election, Patrick McHenry asserted that the SEC remains firmly in control of the crypto market, challenging industry claims of lesser regulation.

McHenry clarified that crypto leaders are seeking regulatory relief but noted that the SEC, under new chairman Paul Atkins, will continue to exert control over the $3.5 trillion digital coin market.

Despite hopes from the crypto community for a regulatory hands-off approach, McHenry emphasized that the SEC isn’t going anywhere and the Commodity Futures Trading Commission won't take over completely.

With a historical law from the Depression era still in effect, McHenry pointed out the complexities in shifting regulatory responsibilities, positioning the SEC as a crucial player in overseeing the crypto sector.

Read at New York Post