Tom Emmer, a congressman, has criticized Gary Gensler (chair of the United States Securities and Exchange Commission) for his approach to regulation of the crypto industry.
Minnesota Congressman Tom Emmer has questioned Gary Gensler (SEC Chairman) about his approach to regulating cryptocurrency. Emmer believes that lawmakers should be more concerned about Gensler’s approach to overseeing the nascent cryptocurrency industry, given the fact that “his strategy (missed), Celsius, Voyager Terra/Luna – and now FTX.” Emmer tweeted:

We were concerned that @GaryGensler was taking an inconsistent and indiscriminate approach to overseeing the crypto community in March. https://t.co/7MLPETnLxF
— Tom Emmer (@RepTomEmmer), November 25, 2022

He added that Congress shouldn’t be required to read the details of the SEC’s oversight agenda through planted stories published in progressive publications.
After receiving inquiries from multiple crypto and blockchain companies, Emmer stated in March that the SEC’s “indiscriminate” and inconsistent approach to regulating crypto industry was “burdensome” that is stifling innovation. Gensler will have to make an account of the agency’s role within the financial sector by appearing before the Financial Committee of the U.S. Congress.
Emmer has been very critical about Gensler in recent times. In a Fox Business interview, Emmer stated that the collapse in FTX was not a failure by the crypto industry but rather a failure by centralised finance, Gensler, and Sam Bankman-Fried. Emmer claims that Gensler was involved in bad actors at the expense good ones. Emmer asked:

What is the role of the regulator in this? Are they looking for good actors in the community or making backroom deals-it seems-with people doing nefarious acts?

Disclaimer: This article is intended for informational purposes only. This article is not intended to be used for legal, tax, investment or financial advice.

  

Tom Emmer has criticized Gary Gensler (chair of the United States Securities and Exchange Commission) for his approach to regulating crypto. Minnesota Congressman Tom Emmer has criticized Gary Gensler (SEC Chairman) for his approach to regulating cryptocurrency. Emmer believes that legislators should be more concerned about Gensler’s approach to overseeing the nascent cryptocurrency industry, given the fact that his strategy “missed” Celsius, Voyager and Terra/Luna – and now FTX. Emmer tweeted: “Congress shouldn’t have to know the details about SEC’s oversight agenda through planted stories on progressive publications. After receiving inquiries from multiple crypto and blockchain companies, Emmer previously stated in March that the SEC’s “indiscriminate” and inconsistent approach to regulating crypto industry was “burdensome” that is stifling innovation. Gensler will have to make an account of the agency’s role within the financial sector by appearing before the Financial Committee of the U.S. Congress. Emmer has been very critical of Gensler in recent times. In a Fox Business interview, he stated that the collapse in FTX was not a failure by the crypto industry but rather a failure by centralised finance, Gensler, Sam Bankman-Fried. Emmer claims that Gensler was involved in bad actors at the expense good actors. Emmer asked:
What is the role of the regulator in this? Are they looking for good actors in the community or making backroom deals-it seems-with people doing nefarious acts?
Disclaimer: This article is intended for informational purposes only. This article is not intended to be used for legal, tax, investment or financial advice.