8 US Lawmakers Urge SEC to Stop Crippling Crypto, Stifling Innovation – Regulation Bitcoin News - BitcoinEthereumNews.com
Eight U.S. lawmakers have sent a letter to the chairman of the U.S. Securities and Exchange Commission (SEC) regarding how the agency collects information from crypto companies. According to the crypto community, the SEC‘s “requests” for information “are overburdensome, don’t feel particularly voluntary, and are stifling inovation.”n US Lawmakers Want Answers From SEC U.S. Representatives Tom Emmer, Darren Soto, Warren Davidson, Jake Auchincloss, Byron Donalds, Josh Gottheimer, Ted Budd, and Ritchie Torres have jointly sent a bipartisan letter to the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, regarding how the SEC obtains information from cryptocurrency and blockchain companies. Congressman Emmer explained in a tweet the reason behind the letter: My office has received numerous tips from crypto and blockchain firms that SEC Chair Gary Gensler‘s information reporting ’requests‘ to the crypto community are overburdensome, don’t feel particularly …voluntary … and are stifling inovation. Rep. Warren Davidson tweeted: “We must promote American inovation rather than stifle it with an incoherent mix of bad regulation, selective enforcement, and ongoing inaction.” He added: I joined Rep. Tom Emmer and colleagues sending a letter to SEC Chair Gary Gensler regarding the SEC crippling crypto in America. In their letter to Gensler, the lawmakers pointed out: “It appears