ChainCatcher news, according to The Block, U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler will attend a hearing of the U.S. Senate Banking Committee on Tuesday. He still maintains that cryptocurrencies must comply with the same laws as other securities such as stocks, and many cryptocurrencies fall under the jurisdiction of the SEC.

"Given the widespread lack of compliance with securities laws in the industry, it's not surprising that we are seeing many problems in the market," he said in prepared testimony released Monday. "This is reminiscent of what happened in the 1920s before the federal securities laws were implemented. So, We have taken a range of enforcement actions to hold offenders accountable and promote investor protection – some resulting in settlements and some resulting in prosecutions.”