SEC chairman fiercely criticized by members of Congress for cryptocurrency regulation: 'The most lawless SEC chairman in history'
US Securities and Exchange Commission (SEC) Chairman Gary Gensler was heavily criticized by lawmakers from both parties during a congressional hearing yesterday for mishandling cryptocurrency regulation issues.
The lawless SEC chairman
According to The Block, during the House Financial Services Committee hearing on Tuesday, Republican whip Tom Emmer asked Gary Gensler about the case between the SEC and cryptocurrency startup DEBT Box. A federal judge in Utah once criticized the SEC for poor performance in handling the case, stating that their actions were inappropriate. In the end, the institution was ordered to pay sanctions, including legal fees and related expenses. The judge also criticized the misleading statements made by the SEC, which acknowledged that it did not meet the expected standards.
Tom Emmer directly asked Gary Gensler, "Don't you feel embarrassed when we talk about this today
Regarding this, Gary Gensler responded, "The handling of this case is indeed not very good
On the other hand, Tom Emmer also criticized Gary Gensler as the most "destructive" and "lawless" chairman in the 90 year history of the regulatory agency during the hearing. Tom Emmer told Gary Gensler during the House Financial Services Committee hearing:
You created the term cryptocurrency securities. We cannot have a more historically destructive or lawless SEC chairman
Over the years, many members of Congress have criticized the SEC's cryptocurrency regulatory approach, believing that the rules for the industry are not clear enough. But there is also a group of lawmakers who are cautious about cryptocurrencies, such as Maxine Waters from the Democratic Party, who believe that the SEC is fulfilling its responsibility to protect investors and ensure that the US capital market maintains a global leading position.
This hearing coincides with the election season, and cryptocurrency has become a hot topic. According to a report by consumer advocacy group Public Citizen, cryptocurrency companies have already spent $119 million in 2024, with the majority of funds flowing into political action committees, particularly the Fairshake PAC.
Tom Emmer also mentioned Vice President He Jinli's recent remarks on cryptocurrency. He Jinli stated that she will "encourage innovative technologies such as artificial intelligence and digital assets, while protecting consumers and investors," and will create a "transparent and consistent business environment.
Tom Emmer asked Gary Gensler:
Is this also your strategy? Or is she criticizing you because she thinks you haven't been able to establish clear enough rules in her government over the past three years
Gary Gensler stated that there are currently legal norms in place, but Congress can change these laws, cleverly avoiding this issue and shifting responsibility back to Congress.
Comparison between baseball tickets and NFTs
On the other hand, Democratic Congressman Ritchie Torres also raised questions about how the SEC defines securities, using the example of tickets for the New York Yankees. The cryptocurrency supporter asked Gary Gensler if purchasing a Yankees ticket would be considered a security, and pointed out that the ticket allowed him to enter and watch the game.
The background of Ritchie Torres' question is that the SEC has sued multiple NFT issuers, accusing them of issuing unregistered securities, including Stoner Cats 2 LLC.
Ritchie Torres asked:
From a legal perspective, is there any difference under federal securities law between buying a ticket to watch a Yankees game and buying an NFT to watch an animated web series
Gary Gensler responded that it depends on how the product is provided and sold, and cited Howey's test to illustrate whether there is an investment contract. This test is based on the 1946 ruling of the United States Supreme Court and is used to determine whether an asset belongs to securities.
Regarding this, Ritchie Torres retorted, "People's expectations of whether something can appreciate in value or be sold for profit in the secondary market can apply to any collectible, consumer goods, artwork, or musical work
(责任编辑:基金数据)
- 奉化属于什么什么气候-奉化属于什么什么气候区
- OKX Token2049 Express: Chief Marketing Officer Haider Reveals Five Key Details of OKX Wallet's New Upgrade
- 脑钱包怎么生成 脑钱包生成器
- 整个 Web3 在为两个男人买单,区块链应用大爆发或许只是幻觉
- 有进项没销项怎么处理
- 请问广发车主卡存款提现收费吗?车主卡怎么样?
- 氪石币行情
- 「避税天堂」瑞士的加密资产税收与监管制度
- Vitalik 放狠话:年底前未达标的 Layer 2,将不再被视为二层网络
- 火币网的etc
- DePIN & AI 项目 Network3 宣布推出本地大语言模型功能,推动边缘 AI 发展
- 区块链平台服务商
- 特朗普中东之行究竟带回多少投资?数字从2万亿飙升至7万亿美元引发质疑
- HashKey Jeffrey:降息周期开启,加密市场波动为哪般
- 公积金贷款额度应该如何计算,想确定下最多能贷多少钱
- 德克萨斯州比特币储备法案进入三读阶段
- 火币充值转账
- 以旧换新可以差额开票吗
- JamesWynn重新加仓BTC多头仓位
- XYO Network引入超1000万个节点推动Web3发展
- 虚拟货币交易平台有哪些 views+
- 虚拟货币交易平台排名 views+
- 0kx交易所官网 views+
- okx交易所app官网 views+
- 欧亿交易所怎么样。 views+
- 欧亿app官网正式版下载 views+
- 亿欧交易所下载 views+
- okx交易所app官网链接 views+
- 数字货币交易平台app views+
- 易欧app官网下载 views+