Digital Chamber, a cryptocurrency trade association, condemned the SEC for filing Wells notices with Robinhood Crypto. In a statement on May 6, the association expressed "deep disappointment and concern" over the action, calling it an example of regulatory overreach.
The Chamber of Digital Commerce stressed that it had been opposed to the SEC expanding its reach without congressional authorization. It noted that Congress was "actively considering legislation" to define regulatory jurisdiction over cryptocurrencies, and said the SEC had violated that process.
To address the jurisdictional issue, the Chamber urged "immediate legislative action" and said SEC Chairperson Gary Gensler should be compelled to testify before Congress.
Chamber of Digital Commerce condemns SEC for issuing Wells notice against Robinhood
2024-05-07 00:13:42
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