- U.S. Republican Tom Emmer stated that Gary Gensler is “ineffective and incompetent” in regulating crypto.
- Emmer passed an amendment to limit the SEC’s enforcement actions against digital assets until Congress establishes clear legislation.
- The amendment prohibits the SEC from using funds for enforcement activities related to crypto transactions until regulatory jurisdiction is clarified.
U.S. Republican House Majority Whip Tom Emmer stated that U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler is “as ineffective as he is incompetent.” The Republican shared that his nonpartisan appropriations amendment, which aims to reign in SEC enforcement abuses against the digital asset industry, has passed the House with no opposition.
.@GaryGensler is as ineffective as he is incompetent. Fortunately, my nonpartisan appropriations amendment to reign in SEC enforcement abuses against the digital asset industry passed the House today with no opposition.Congress will hold unelected bureaucrats accountable. pic.twitter.com/TGaaW8I0Eu
— Tom Emmer (@GOPMajorityWhip) November 8, 2023
Rep. Emmer claimed that regulation by enforcement is Gensler’s approa…
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