Sources: The Democratic Party supports the SEC's authority to regulate cryptocurrencies and believes that almost all cryptocurrencies are securities

ChainCatcher news, according to Fox reporter Eleanor Terrett citing sources, a memo has circulated among Democratic committee members before the hearing on digital asset regulation, which includes support for the SEC's full authority over cryptocurrency regulation, asserting that almost all cryptocurrencies are securities, and that the issue with cryptocurrencies is not ambiguous, but rather widespread non-compliance.

The information also claims that those committee Republicans who wish to cut the budgets of financial regulatory agencies are not genuinely protecting investors; they should focus on passing a clean debt ceiling bill instead of supporting cryptocurrency legislation. (Source link)