{"id":9159,"date":"2022-12-14T10:08:42","date_gmt":"2022-12-14T10:08:42","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=9159"},"modified":"2022-12-14T10:08:44","modified_gmt":"2022-12-14T10:08:44","slug":"us-lawmaker-calls-on-sec-chair-gensler-to-testify-about-his-crypto-regulatory-failures","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=9159","title":{"rendered":"US Lawmaker Calls on SEC Chair Gensler to Testify About His Crypto Regulatory Failures"},"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>U.S. Congressman Tom Emmer has called on the chairman of the Securities and Exchange Commission (SEC), Gary Gensler, to testify before Congress and \u201canswer questions about the cost of his regulatory failures.\u201d The lawmaker stressed: \u201cGensler has repeatedly dodged Congress at the expense of investors \u2026 leaving us to learn about the SEC\u2019s crypto investigations, like the one into FTX, through the media.\u201d<\/strong><\/p>\n<h2>Lawmaker Wants SEC Chair Gensler to Testify Regarding Crypto Regulation<\/h2>\n<p>U.S. Congressman Tom Emmer (R-MN) wants the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, to testify before Congress about his failures, particularly in regulating the crypto industry. The congressman from Minnesota tweeted Friday:<\/p>\n<p>Gensler has repeatedly dodged Congress at the expense of investors \u2026 leaving us to learn about the SEC\u2019s crypto investigations, like the one into FTX, through the media.<\/p>\n<p>He noted that the SEC chief \u201chasn\u2019t publicly appeared before the House Financial Services since October 5, 2021.\u201d<\/p>\n<p>Emmer, who chairs the Congressional Blockchain Caucus, described in a different tweet that his team \u201creceived info from several sources \u2026 that Gary Gensler\u2019s efforts to gather info on crypto companies were not targeted, intentional, or clear; rather, the SEC\u2019s requests were haphazard and unfocused.\u201d<\/p>\n<p>The lawmaker emphasized:<\/p>\n<p>We now know Gensler\u2019s crypto information-gathering efforts were ineffective.<\/p>\n<p>Rep. Emmer explained that he previously sent Gensler a letter requesting information about how the securities watchdog plans to regulate the crypto sector. However, he said the SEC chief \u201cdeclined to provide Congress with the information requested in the letter, which would\u2019ve informed Congress of the apparent inconsistencies in Gensler\u2019s approach that caused him to miss Terra\/Luna, Celsius, Voyager, and FTX.\u201d<\/p>\n<p>Emmer concluded:<\/p>\n<p>Gary Gensler must testify before Congress and answer questions about the cost of his regulatory failures.<\/p>\n<p>The lawmaker has repeatedly criticized Gensler and his enforcement-centric approach to crypto regulation. In June he said: \u201cUnder Chair Gensler, the SEC has become a power-hungry regulator, politicizing enforcement, baiting companies to \u2018come in and talk\u2019 to the Commission, then hitting them with enforcement actions, discouraging good-faith cooperation.\u201d Last month, he said: \u201cChair Gensler\u2019s regime at the SEC has been characterized by regulatory hypocrisy and inconsistency. Unacceptable that Gary Gensler doesn\u2019t hold himself to the same transparency standards that he places on the private sector.\u201d<\/p>\n<p>The securities regulator announced Tuesday that it has charged FTX and former CEO Sam Bankman-Fried (SBF) with \u201corchestrating a scheme to defraud equity investors.\u201d<\/p>\n<p>Tags in this story<\/p>\n<p>Congressman, Congressman Tom Emmer, ftx, Gary Gensler, Gary Gensler FTX, Gary Gensler SBF, Gary Gensler testify Congress, Rep Tom Emmer, sec chair gary gensler, tom emmer, Tom Emmer FTX, Tom Emmer Gary Gensler<\/p>\n<p><em><strong>Do you think SEC Chair Gensler has failed in regulating the crypto sector? 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\/us-lawmaker-calls-on-sec-chair-gensler-to-testify-about-his-crypto-regulatory-failures\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. Congressman Tom Emmer has called on the chairman of the Securities and Exchange Commission (SEC), Gary Gensler, to testify before Congress and \u201canswer questions about the cost of his regulatory failures.\u201d The lawmaker stressed: \u201cGensler has repeatedly dodged Congress at the expense of investors \u2026 leaving us to learn about the SEC\u2019s crypto investigations, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9160,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-9159","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\/9159","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=9159"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9159\/revisions"}],"predecessor-version":[{"id":9161,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/9159\/revisions\/9161"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/9160"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9159"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9159"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9159"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}