Crypto has turned contentious in Washington. While the White House pushes for new rules, a partisan divide is growing in Congress over how to supervise, tax, and regulate the industry. At the nexus of the debate sits the Securities and Exchange Commission.
Led by Chairman Gary Gensler, a Democrat appointed by President Joe Biden, the SEC has taken a get-tough approach to the industry. But Gensler also faces opposition within the agency—notably from fellow commissioner Hester Peirce.
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