U.S. lawmakers delivered a stinging rebuke to Securities and Exchange Commission (SEC) Chair Gary Gensler during a high-stakes hearing on Capitol Hill. Representatives from both sides of the aisle expressed growing frustration with the agency’s approach to digital asset regulation, arguing that the current ‘regulation by enforcement’ strategy lacks transparency and stifles domestic innovation. The session, which focused on the SEC’s oversight of the cryptocurrency industry, highlighted a deepening rift between regulators and legislators. Critics accused Gensler of creating a hostile environment for legitimate businesses while simultaneously failing to prevent major industry collapses. Some lawmakers warned that the SEC’s inconsistent policies are pushing the multibillion-dollar industry overseas, ultimately harming the U.S. economy’s competitive edge. As the debate over crypto’s legal status intensifies, the pressure on the SEC to provide a clear legislative framework continues to mount.
Source: ‘This Is Not Good for Crypto’: Lawmakers Slam SEC Chair for Easing Industry Policing
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