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US lawmaker calls on SEC chairman Gensler to testify about its crypto regulatory failures

US Congressman Tom Emmer (R-MN) wants US Securities and Exchange Commission Chairman Gary Gensler to testify before Congress about all his failures, and certainly about regulating the crypto industry. Wherein in this regard the Minnesota Congressman tweeted on Friday that Congress is being dodged repeatedly by Gensler at the expense of investors and left to learn about the crypto investigation through the media As was the case with FTX and of course he says the SEC chief “has not appeared publicly before the House Financial Services since October 5, 2021” and the presiding Emmer explains via a separate tweet It is with our team that it has been learned that Gary Gensler’s entire effort to solicit information about crypto companies was not intentional or explicit, and much less targeted or relevant in nature, but rather, the SEC’s requests were random and unfocused. where the legislator insisted that he was aware that all of Gensler’s efforts to collect crypto information had been ineffective.
Wherein it was reported by Emmer that he first addressed Gensler via a letter asking for information on how the cryptocurrency security watchdog is training plans to regulate the crypto sector as a whole and that he that the SEC chief “blatantly refused to provide Congress with the information requested by the letter which would have informed Congress of all of Gensler’s visions and inconsistent facts and which would certainly have caused him to lose the Terra/Luna, Celsius, Voyager and Missed the FTX.”

Wherein it was concluded by Emer that he should testify before Congress and answer questions about his lack of regulatory failures, the legislator repeatedly criticised his enforcement center approach to crypto regulation and all processes in person. Is. Because in Life he said: “Under Chair Gensler, the SEC has become a power-hungry regulatory authority that is politicising and subverting the Commission’s decisions to come into companies and yet conduct enforcement actions in good faith.” is discouraging cooperation and says again in the last month that its chair’s rule is empowering regulatory hypocrisy and inconsistency and certainly not acknowledging that Gary Gensler himself does not live up to the same standards of transparency And they keep their eye on the private sector.In addition to securities regulations, it announced on Tuesday that it has indicted FTX and the former CEO for orchestrating a scheme to defraud equity┬áinvestors.

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