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Apr 22 10 tweets 6 min read Twitter logo Read on Twitter
This past week, #SEC Chair Gary Gensler testified before Congress on cryptocurrency policy. The hearing was contentious, with both sides raising strong arguments and concerns.

Read on for a breakdown of the arguments and issues raised by both sides, a thread 🧵: Image
1/ Congressional Republicans criticized Gensler's approach to cryptocurrency regulation, calling it overbearing and stifling innovation.

They expressed concerns that Gensler's policies could harm small businesses and investors.📉 Image
2/ During the hearing, Gensler declined to say whether Ether / $ETH is a security. 📜

This is a major issue for the cryptocurrency industry, as it could have significant implications for how the asset is regulated. Image
3/ Gensler also faced questions on Bitcoin / $BTC and other #cryptocurrencies. He emphasized the need for investor protection and argued that the #SEC should have a role in regulating the broader market.👨‍⚖️
4/ Some lawmakers pressed Gensler on the SEC's approach to #DeFi and other emerging areas of the cryptocurrency market.

Gensler responded by saying that the #SEC is exploring these issues and considering how to regulate them.🔎

(Source: @YahooFinance ) Image
5/ Despite the contentious nature of the hearing, some industry experts believe that Gensler's approach to crypto regulation could ultimately benefit the market. 📈

They argue that clearer guidelines could increase investor confidence and reduce fraud.

(Source: @DefiLlama ) Image
6/ Earlier this month, an #SEC advisory group backed Gensler's cryptocurrency efforts but asked for more guidance for the industry.

The group also recommended that the SEC consider creating a dedicated #Crypto regulatory division.👨‍💼 Image
7/ Some lawmakers have expressed frustration with Gensler's approach to cryptocurrency regulation.

Rep. @WarrenDavidson has even said that he plans to introduce legislation to fire Gensler from his position as #SEC Chair. ⛔️ Image
8/ As the cryptocurrency market continues to evolve, it's clear that regulation will play a significant role in its future. 📚

The outcome of the SEC's approach to regulating the market will have major implications for investors, businesses, and the industry as a whole.⚖️ Image
9/ We will continue to monitor the cryptocurrency regulatory landscape and provide updates as fit.

Please feel free to continue the discussion in the replies below!👇

Follow us at @theBroDAO for more content!

Thread by @DeFiWalt_ 🧪

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The Solana ecosystem has been making waves lately, with impressive blockchain health, developer activity, NFT volume, and DeFi growth.

Here's a quick recap of the past 30 days, using data from @HelloMoon_io 👇 Image
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