Minnesota Representative Tom Emmer, chair of the Congressional Blockchain Caucus, has asked the Securities and Exchange Commission to clarify how it gathers information from cryptocurrency-linked companies, while also putting an end to time-wasting practices such as asking multiple times for the same information.

Currently, the SEC sends out two forms—Form 2866, which asks for company details, and Form 1662 which lays out penalties for withholding said details—which Emmer and several colleagues who co-signed his letter have called into question. Basically, those forms ask for much of the same info.

Citing the Paperwork Reduction Act, Emmer wrote that “in seeking information from the American public, federal agencies must be good stewards of the public’s time, and not overwhelm them with unnecessary or duplicative requests for information.”

Co-signing Emmer’s letter to SEC Chair Gary Gensler were: Warren Davidson of Ohio, Byron Donalds of Florida, Ted Budd of North Carolina, Darren Soto of Florida, Jake Auchincloss of Massachusetts, Josh Gottheimer of New Jersey, and Ritchie Torres of New York.

The letter also asks why the SEC’s enforcement division has been used to investigate unregulated crypto firms, rather than keeping separate the agency’s investigation and…


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