{"id":3911,"date":"2022-05-05T22:47:20","date_gmt":"2022-05-05T22:47:20","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=3911"},"modified":"2022-05-05T22:47:21","modified_gmt":"2022-05-05T22:47:21","slug":"lawmakers-sec-commissioner-slam-chair-gensler-for-focusing-on-crypto-enforcement","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=3911","title":{"rendered":"Lawmakers, SEC Commissioner Slam Chair Gensler for Focusing on Crypto Enforcement"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p><strong>Several U.S. lawmakers and a commissioner with the U.S. Securities and Exchange Commission (SEC) have voiced concerns about the securities regulator expanding its crypto enforcement unit. \u201cThe SEC is a regulatory agency with an enforcement division, not an enforcement agency.\u201d<\/strong><\/p>\n<h2>Lawmakers Oppose SEC\u2019s Crypto Enforcement Focus<\/h2>\n<p>A number of lawmakers and a commissioner with the U.S. Securities and Exchange Commission (SEC) slammed the securities watchdog Tuesday for focusing on crypto enforcement. This followed the SEC\u2019s announcement that the agency nearly doubled the size of its crypto enforcement unit.<\/p>\n<p>SEC commissioner Hester Peirce, also known in the crypto community as \u201ccrypto mom\u201d for her pro-crypto stance, commented on Twitter:<\/p>\n<p>The SEC is a regulatory agency with an enforcement division, not an enforcement agency. Why are we leading with enforcement in crypto?<\/p>\n<p>Congressman Patrick McHenry (R-N.C.) tweeted stating that SEC Chair Gary Gensler\u2019s regulation by enforcement \u201cis stifling American innovation.\u201d He elaborated: \u201cIf the U.S. wants to lead the deployment of the next generation of internet technology, we must provide clear, thoughtful rules of the road for the digital asset ecosystem.\u201d<\/p>\n<p>Rep. Warren Davidson (R-OH) contested the SEC chairman\u2019s idea of creating value. \u201cIt seems Gary Gensler is testing the labor theory of value at the SEC,\u201d he tweeted. \u201cThe more labor, the more value created? Nope. It\u2019s a fallacy in economics and in regulation.\u201d<\/p>\n<p>Congressman Tom Emmer (R-MN) questioned: \u201cI wonder how many taxpayer dollars are being wasted in Gary Gensler\u2019s personal crusade against the crypto industry?\u201d<\/p>\n<p>Rep. Bill Huizenga (R-MI) stressed:<\/p>\n<p>Congress should not cede its authority to Gary Gensler. The SEC\u2019s desire to use regulation by enforcement to provide \u2018clarity\u2019 for digital asset market participants is a power grab. We need responsible solutions, not edicts from bureaucrats.<\/p>\n<p>Tags in this story<\/p>\n<p>Bitcoin, Crypto, crypto enforcement, crypto enforcement actions, Cryptocurrency, Gary Gensler, hester peirce, patrick mchenry, SEC, sec bitcoin, SEC Commissioner, sec crypto, sec cryptocurrency, tom emmer, Warren Davidson<\/p>\n<p><em><strong>What do you think about the SEC focusing on crypto enforcement? Let us know in the comments section below.<\/strong><\/em><\/p>\n<p>Kevin Helms <\/p>\n<p class=\"article__body__author__info__about\">\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.<\/p>\n<p><i class=\"td-icon-font td-icon-mail-1\"\/><\/p>\n<p class=\"images_credits\"><em>Image Credits: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n<p><strong>Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<p>More Popular NewsIn Case You Missed It<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/news.bitcoin.com\/lawmakers-sec-commissioner-slam-chair-gensler-for-focusing-on-crypto-enforcement\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Several U.S. lawmakers and a commissioner with the U.S. Securities and Exchange Commission (SEC) have voiced concerns about the securities regulator expanding its crypto enforcement unit. \u201cThe SEC is a regulatory agency with an enforcement division, not an enforcement agency.\u201d Lawmakers Oppose SEC\u2019s Crypto Enforcement Focus A number of lawmakers and a commissioner with the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3912,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-3911","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-updates"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/3911","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3911"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/3911\/revisions"}],"predecessor-version":[{"id":3913,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/3911\/revisions\/3913"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/3912"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}