The chairman of the SEC will testify tomorrow at a hearing in the House Financial Services Committee regarding SEC oversight issues

ChainCatcher News, Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), will testify on September 27 at 10:00 PM during a hearing held by the U.S. House Financial Services Committee regarding SEC oversight issues.

According to the committee's memorandum, this hearing will review the regulatory developments, rulemaking, and activities of the SEC over a period of time since October 5, 2021, including the issuance of Staff Accounting Bulletin No. 121 by SEC staff on March 24, 2022, which requires reporting entities engaged in digital asset custody activities to record corresponding liabilities for the assets; and the SEC's proposal to amend the definition of "exchange" on March 18, 2022, expanding the SEC's authority over digital asset trading platforms, among others.