Sen. Hagerty says ‘terrible environment’ is forcing crypto companies ‘to look overseas’ and calls for more oversight hearings with SEC’s Gensler

(Credit: Celal Gunes—Getty Images)

As Congress returns from summer recess, Sen. Bill Hagerty (R-Tenn.) called for crypto legislation on Thursday, arguing that the lack of regulatory clarity could push the industry outside the U.S.

“It is a terrible environment,” Hagerty told an audience at the libertarian-leaning Cato Institute. “For those companies who are trying to invest and expand, it’s forcing them to look overseas to more favorable regulatory environments.”