Lawmakers slam SEC, chairman for unclear crypto regs

Ritu13

Golden Finance reports that U.S. Representatives Patrick McHenry and Tom Emmer criticized the U.S. Securities and Exchange Commission (SEC) and its chairman, Gary Gensler, on Friday after the SEC rejected Coinbase's petition for clear cryptocurrency regulation. Congressman McHenry commented on social media platform X, stating that it is shameful that SEC Chairman Gary Gensler continues to refuse clarity for the digital asset ecosystem. He questioned why, if "the law is clear" supporting Gensler's position, the SEC continues to fail in court. McHenry has been advocating for clear cryptocurrency regulation and will retire from Congress when his term ends in January next year. Another U.S. Congressman, Republican Representative Tom Emmer of Minnesota, also strongly criticized the SEC's rejection of Coinbase's petition. Emmer stated that the SEC's policy is not to provide more transparency to the market but to create confusion, undermining our great capital markets. He deemed this as a mistake and a clear violation of the SEC's responsibilities.

Yamini003

I don't know if the regulatory measures will strengthen.

Indra55

Regulation is something that cannot be lacking, indeed.