US Congressman Tom Emmer expressed his concerns about the crypto surveillance strategy implemented by SEC Chairman Gary Gensler.
Major collapses and bankruptcies in the crypto industry remain on the agenda. Celsius, Voyager, Terra and most recently FTX have caused the crypto market to crash. Considered as major crypto companies, these projects have caused billions of dollars to evaporate. In this period when cryptocurrencies were adopted and given importance, the events that took place brought question marks with them. The most important issue discussed globally was the need for increased regulations and inspections. In the midst of all this, Congressman Tom Emmer expressed his concerns about the stance of SEC Chairman Gary Gensler.
US Congressman Targets Gary Gensler
US Congressman Tom Emmer has targeted SEC Chairman Gary Gensler’s indiscriminate and inconsistent approach to crypto oversight.
While regulations and audits are aimed at protecting investors from bad actors, recent events have drawn attention. Although the SEC side of the USA has undertaken all this burden, no clear remedy has been found. This is why Emmer worries about the SEC’s approach.
Emmer noted that the SEC has overlooked some things, taking into account FTX and other crashes. He cited this as the reason for his anxiety. Emmer also touched on the fact that Congress had to learn the details about the SEC’s oversight through stories.
Finally, Emmer stated that he eagerly awaits Gary Gensler’s public statement.
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