Congressman Tom Emmer slammed US Securities and Exchange Commission (SEC) chairman Gary Gensler for his approach to crypto regulation, accusing him of dishonestly regulating crypto.
During an interview on the Unchained podcast on April 7, between the reporter and Mr. Emmer, he discussed SEC policy and pointed out that doing so was not a good faith path.
“This guy, in my opinion, is a dishonest official attacking the crypto community with unfounded law enforcement.”
Emmer gave the example of Coinbase, which was notified before the SEC’s Wells notice in March regarding its staking product.
“SEC Attacks Coinbase with Wells Notice Regarding Coinbase Requesting SEC Comments”
Since Gensler took over as SEC executive in April 2021, he has advised the agency to adopt a crypto-friendly policy. and demands that crypto companies register with the SEC in order to comply with securities laws. He views that almost all cryptos other than Bitcoin (BTC) are classified as securities. and should be regulated by the SEC
Coinbase CEO Brian Armstrong hinted that talking to the SEC would be difficult, and Kraken CEO Jesse Powell felt the same way.
A key issue raised by many in the crypto community is the rather anti-crypto approach to regulatory enforcement. It’s not as recognizable as the SEC claims.
“This is not the way the government should treat Americans. And I send a message to the crypto community that Mr. ‘Gary Gensler does not regulate crypto in good faith.
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