Minnesota Representative Tom Emmer called out Securities and Exchange Commission Chairman Gary Gensler on Sunday, demanding that the official speak before Congress about his approach to regulating crypto.

“@GaryGensler must testify before Congress and answer questions about the cost of his regulatory failures,” he wrote in a thread on Twitter.

Emmer says the SEC had failed to gather the information needed from crypto companies that would have prevented disasters like the $32 billion dollar collapse of cryptocurrency exchange FTX.

“We now know Gensler’s crypto information-gathering efforts were ineffective,” he stated.

He argued that the SEC has displayed a consistent lack of clarity regarding its approach and has been unwilling to provide useful insight. He referenced a letter sent to Gensler in March that asked specific questions about the financial watchdog’s policies and procedures—questions he said were sidestepped in Gensler’s response.

“[Gensler] declined to provide Congress with the information requested in the letter, which would’ve informed Congress of the apparent inconsistencies in Gensler’s approach that caused him to miss Terra/Luna, Celsius, Voyager, and FTX,” he said.

Emmer also claimed that the Congressional Blockchain Caucus, which he co-chairs, has received reports of SEC inquiries and investigations that warrant concern.

“Efforts to gather info on crypto companies were not targeted,…


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