At a House Financial Services Committee hearing, Securities Exchange Commission Chairperson Gary Gensler was criticized by lawmakers and members of his agency for the way he handled U.S. cryptocurrency regulation. U.S. Congressman Tom Emmer slammed SEC Chairperson Gary Gensler as the most "disruptive" and "lawless" chairperson in the regulator's 90-year history. Emmer told Gensler at the House Financial Services Committee hearing, "You coined the term crypto asset security. This term is not found in the statute, you made it up, and you never provided any explanatory guidance on how to define crypto asset security within the scope of the SEC. Your inconsistency on this issue has set this country back. We could not have had a more historically destructive or lawless SEC chairperson. "
Emmer said the term was the entire basis of Gensler's "enforcement campaign" against the cryptocurrency industry over the past three years. Until last week, Securities Exchange Commission lawyers withdrew the term in a court footnote.
US Congressman Tom Emmer: Gary Gensler is the most "disruptive" and "lawless" SEC chairperson in history
2024-09-25 03:00:35
House of Representatives Financial Services Committee SEC U.S. Securities and Exchange Commission Chairpersondesk3cryptocurrencydesktopCrypto News
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