{"id":81688,"date":"2023-07-14T11:01:43","date_gmt":"2023-07-14T08:01:43","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=81688"},"modified":"2025-09-12T00:28:54","modified_gmt":"2025-09-11T21:28:54","slug":"us-lawmakers-urge-inquiry-into-sec-over-its-approach-to-crypto-regulation","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/us-lawmakers-urge-inquiry-into-sec-over-its-approach-to-crypto-regulation\/","title":{"rendered":"US lawmakers urge inquiry into SEC over its approach to crypto regulation"},"content":{"rendered":"<p>Democratic Congressman Richie Torres has called for an investigation into the U.S. Securities and Exchange Commission over its \u201cdisorganised and despotic approach to digital assets.\u201d<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/mikpo8jPKQcEd0f_s3EKHDezIDj-kqmZf48JqVDCLSzAUdPGtaVjUVtenOKXi1yzhhclhIseixLFFF3zSAEBO7vGED_TG7HNUhswvloDmmIKopDlrvetwIxkAq2BEXiGLigDDaeY5kO5dTfVitnSQpc\" alt=\"US lawmakers urge inquiry into SEC over its approach to crypto regulation\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/twitter.com\/RepRitchie\/status\/1679534903661301761\">Twitter<\/a>.<\/figcaption><\/figure>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe SEC behaves like an overly zealous traffic cop, arbitrarily issuing fines to drivers, while keeping the speed limit secret. The agency prefers to communicate through coercion rather than rules or guidance,\u201d the lawmaker said.<\/p>\n<\/blockquote>\n<p>The reason for the request was the Commission&#8217;s special-purpose broker-dealer license for digital securities, which Prometheum received.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe dubious licensing decision for a misleading digital-asset platform reflects an attempt by the agency&#8217;s chair Gary Gensler to politicize the registration process to a level rarely seen in the SEC\u2019s history,\u201d Torres said.<\/p>\n<\/blockquote>\n<p>He sent a request to begin an inquiry with the regulator&#8217;s inspector general and the Comptroller General&#8217;s Office.<\/p>\n<p>Earlier in April, Torres accused the SEC chair of failing to draw lessons from the <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-group-files-for-bankruptcy-sam-bankman-fried-resigns-as-ceo\">FTX collapse<\/a>, pointing to investigations into Coinbase and other American firms. Around the same time, Warren Davidson, the Ohio Republican in the House, introduced a <a href=\"https:\/\/u1f987.com\/en\/news\/us-congress-to-propose-removing-sec-chair-over-abuses\">proposing the removal<\/a> of Gensler from his post.<\/p>\n<p>On June 6, the Commission <a href=\"https:\/\/u1f987.com\/en\/news\/sec-files-suit-against-coinbase-exchange\">filed a lawsuit<\/a> against a crypto exchange, accusing it of violating securities laws. A day earlier the agency <a href=\"https:\/\/u1f987.com\/en\/news\/sec-files-suit-against-binance-and-changpeng-zhao\">made charges against<\/a> Binance and its CEO Changpeng Zhao.<\/p>\n<p>Earlier, in mid-June, U.S. lawmakers introduced <a href=\"https:\/\/u1f987.com\/en\/news\/house-republicans-introduce-bill-to-oust-gary-gensler\">a bill to oust<\/a> Gensler and restructure the SEC over the \u201congoing abuses\u201d by the agency head.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Democratic Congressman Richie Torres called for an investigation into the U.S. Securities and Exchange Commission over its \u2018disorganised and despotic approach to digital assets\u2019.<\/p>\n","protected":false},"author":1,"featured_media":81689,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[36,128,26],"class_list":["post-81688","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-regulation","tag-sec","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/81688","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=81688"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/81688\/revisions"}],"predecessor-version":[{"id":81690,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/81688\/revisions\/81690"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/81689"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=81688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=81688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=81688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}