US Congressman Tom Emmer is working to limit the activities of the SEC and Gary Gensler.
US Congressman and US House Majority Representative Tom Emmer took aim at the SEC over digital assets. Emmer is preparing to introduce an appropriations amendment that would limit the SEC’s use of funds in the digital assets space.
Emmer thinks the SEC is concerned about cryptocurrency activities and should be prevented.
US Congressman puts SEC on radar
US Congressman Tom Emmer recently backed an appropriations amendment by the SEC that restricts the use of funds in digital asset applications.
.@GaryGensler has abused his authority to grow the Administrative State to the detriment of the American people. Congress must use all our tools, including the appropriations process, to restrict Chair Gensler from further weaponizing taxpayer dollars.
— Tom Emmer (@GOPMajorityWhip) September 8, 2023
Emmer also argued that SEC Chairman Gary Gensler overstepped his authority and took a unilateral approach to crypto. Pointing out that there is no regulation on the crypto side yet, Emmer stated that the SEC is making arbitrary expenditures with taxpayers’ money.
On the other hand, Emmer continues its work to ensure transparency in crypto and digital assets. Emmer announced the Blockchain Regulatory Certainty Act, which provides clarity for blockchain developers and service providers.
Emmer’s thoughts include restricting the SEC’s funding and thus easing its pressure on crypto. Therefore, Emmer offers its full support in the steps taken against the SEC.
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