Crypto Slammed in Senate Hearing

Today's hearing came days after the Securities and Exchange Commission's (SEC) $30 million settlement with Kraken and New York Department of Financial Services' (NYDFS) order that crypto platform Paxos stop minting Binance USD (BUSD), a stablecoin pegged to the value of the U.S. dollar. One reason rule-making for cryptocurrencies has proved challenging: They don't exist within a clear regulatory bucket. Whether cryptocurrencies are securities, and therefore should be regulated by the SEC, is a