Minnesota Senator Tom Emmer has slammed United States Securities Exchange Commission (SEC) Chairman Gary Gensler for his flawed “crypto information-gathering efforts” and insisted Gensler should appear before Congress to explain the cost of his “regulatory failures.”

Emmer’s comments came from a Dec. 10 tweet to his 67,500 Twitter followers, where he made reference to a bipartisan Blockchain Caucus letter he co-authored to the SEC Chairman on Mar. 16.

Emmer said, “we now know Gensler’s crypto information-gathering efforts were ineffective” citing the collapses of the Terra ecosystem and bankrupt crypto platforms Celsius, Voyager and FTX.

“[Gensler] must testify before Congress and answer questions about the cost of his regulatory failures,” the Senator added.

He pointed out Gensler hasn’t made an appearance before the House Committee on Financial Services since Oct. 5. 2021 which left crypto media to fill the void for the SEC’s investigative failures according to Emmer.

Writers of the March Blockchain Caucus letter stated the SEC’s efforts in sourcing information from crypto companies were not “targeted, intentional, or clear” but rather “haphazard and unfocused.”

Emmer argued Gensler’s response — which came two months later — sidestepped several questions that inquired…

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.
You need to agree with the terms to proceed