• Home
  • Bitcoin
  • Ethereum
  • Press Releases
Facebook Telegram
Facebook
Baffic
Submit Press Release
  • News
  • Press Release
  • Facebook
  • Google News
Baffic
SEC chair’s Crypto oversight strategy in question as ecosystems collapse
SEC chair's Crypto oversight strategy in question as ecosystems collapse
News

SEC chair’s Crypto oversight strategy in question as ecosystems collapse

By Andy JoshNovember 26, 2022
Share
Facebook Twitter LinkedIn Telegram WhatsApp

As ecosystems collapse, Congressman Tom Emmer expressed concerns regarding the SEC chair’s crypto oversight strategy.

The massive decline of major exchanges and ecosystems over the past year — FTX, Celsius, Voyager, and Terra LUNA tickers down $1.59 — casts doubt on the effectiveness of crypto regulations in the United States, despite the fact that regulations frequently aim to safeguard citizens from undesirable actors.

Tom Emmer, a member of Congress, expressed concerns regarding Gary Gensler’s oversight strategy for the crypto ecosystem at the U.S. Securities and Exchange Commission (SEC).

Gensler’s “indiscriminate and inconsistent approach” to crypto oversight has been strongly criticized by Emmer. On March 16, the Congressman disclosed that a number of crypto and blockchain companies had approached him because they thought Gensler’s reporting requests were overly burdensome and stifled innovation.

The Paperwork Reduction Act of 1980 was enacted with the intention of reducing the total amount of paperwork that the federal government imposes on private businesses and citizens. Congressman Emmer had previously requested that the SEC adhere to the standards outlined in that legislation.

In conclusion, Emmer stated, “Congress shouldn’t have to learn the details about the SEC’s oversight agenda through planted stories in progressive publications,” and he expressed his anticipation of Gensler’s public testimony before the Financial Services Committee.

The first official DAO in the United States, American CryptoFed DAO, started a legal battle with the Securities and Exchange Commission (SEC) over the registration of tokens for 2021 and chose not to hire attorneys for the fight.

Additionally, American CryptoFed stated that it intends to move for an extension of the response deadline to the SEC’s Order Instituting Administrative Proceedings.

Crypto SEC
Share. Facebook Twitter LinkedIn Telegram WhatsApp

Related Posts

Revolutionary EU Crypto law MiCA Hits official journal

June 9, 2023

ERD DeFi Lending Platform and USDE Stablecoin Unveiled at EDCON 2023

June 9, 2023

Gary Gensler compares the Crypto market to the roaring 1920s stock market, teeming with fraudsters.

June 9, 2023

UK parliamentarians engage in heated battle over government’s Crypto regulation proposal as financial services

June 8, 2023

Commonwealth Bank takes stand against Crypto scammers, implements payment restrictions to protect customers

June 8, 2023

US Financial Services Committee concludes date to debate over future of Crypto

June 7, 2023

Comments are closed.

Advertisement
Latest Press Releases

ERD DeFi Lending Platform and USDE Stablecoin Unveiled at EDCON 2023

June 9, 2023

OKX Partners with Komainu, Enabling 24/7 Secure Trading of Segregated Assets Under Custody for Institutions

June 6, 2023

OKX Proposes Industry-First BRC-30 Token Standard to Enable Bitcoin and BRC-20 Token Staking

June 2, 2023

Type above and press Enter to search. Press Esc to cancel.