Lawmakers, SEC Commissioner Slam Chair Gensler for Focusing on Crypto Enforcement

Several U.S. lawmakers and a commissioner with the U.S. Securities and Exchange Commission (SEC) person voiced concerns astir the securities regulator expanding its crypto enforcement unit. “The SEC is simply a regulatory bureau with an enforcement division, not an enforcement agency.”

Lawmakers Oppose SEC’s Crypto Enforcement Focus

A fig of lawmakers and a commissioner with the U.S. Securities and Exchange Commission (SEC) slammed the securities watchdog Tuesday for focusing connected crypto enforcement. This followed the SEC’s announcement that the bureau astir doubled the size of its crypto enforcement unit.

SEC commissioner Hester Peirce, besides known successful the crypto assemblage arsenic “crypto mom” for her pro-crypto stance, commented connected Twitter:

The SEC is simply a regulatory bureau with an enforcement division, not an enforcement agency. Why are we starring with enforcement successful crypto?

Congressman Patrick McHenry (R-N.C.) tweeted stating that SEC Chair Gary Gensler’s regularisation by enforcement “is stifling American innovation.” He elaborated: “If the U.S. wants to pb the deployment of the adjacent procreation of net technology, we indispensable supply clear, thoughtful rules of the roadworthy for the integer plus ecosystem.”

Rep. Warren Davidson (R-OH) contested the SEC chairman’s thought of creating value. “It seems Gary Gensler is investigating the labour mentation of worth astatine the SEC,” helium tweeted. “The much labor, the much worth created? Nope. It’s a fallacy successful economics and successful regulation.”

Congressman Tom Emmer (R-MN) questioned: “I wonderment however galore payer dollars are being wasted successful Gary Gensler’s idiosyncratic crusade against the crypto industry?”

Rep. Bill Huizenga (R-MI) stressed:

Congress should not cede its authorization to Gary Gensler. The SEC’s tendency to usage regularisation by enforcement to supply ‘clarity’ for integer plus marketplace participants is simply a powerfulness grab. We request liable solutions, not edicts from bureaucrats.

What bash you deliberation astir the SEC focusing connected crypto enforcement? Let america cognize successful the comments conception below.

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