Rep. Tom Emmer (R-MN) delivered a scathing speech on the House floor, criticizing Securities and Exchange Commission (SEC) Chair Gary Gensler for his handling of digital asset regulation. Emmer accused Gensler of being ineffective and incompetent, pointing out that the SEC has pursued enforcement actions against the digital asset industry without finalizing any rules or regulations. Emmer argued that this lack of clarity has left the industry unable to comply with non-existent rules. He also accused the SEC of overreach, highlighting the agency’s enforcement actions against crypto firms while failing to address “bad actors” in the industry. Emmer plans to introduce an amendment to restrict the SEC’s use of taxpayer funds for crypto enforcement until legislative guidelines are in place. While facing challenges in the Democrat-controlled House, Emmer’s speech indicates that Republican lawmakers are determined to pressure the SEC on crypto regulation. Gensler has defended the SEC’s actions as necessary to protect investors.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	negative
Relevance Score	1
People	Gary Gensler, Tom Emmer
Companies	FTX, Coinbase, Terra-Luna, SEC, Justice and Treasury Departments
Currencies	None
Securities	None