According to Fox reporter Eleanor Terrett, U.S. Senator Bill Hagerty said he would encourage the SEC to focus on clarity in the cryptocurrency field in order to build a proper ecosystem and prevent the industry from flowing overseas.

SEC Chairman Gary Gensler countered that breaking the law and not liking the law are different from a lack of clarity. Hagerty said there is still a lot of uncertainty and lack of clarity at the SEC, and that this situation does not need to exist.