SEC Chairman's Crypto Oversight Strategy Questioned as Ecosystems Collapse

Congressman Tom Emmer expressed concern over the oversight strategy implemented by Securities and Exchange Chairman Gary Gensler United States Commission for the Crypto Ecosystem.< /p> New

While regulations are often aimed at protecting citizens from malicious actors, the effectiveness of crypto regulations in the US is in question due to the colossal downfall of major exchanges and ecosystems over the past year : FTX, Celsius, Voyager and Terra.

Congressman Tom Emmer has expressed concern about the surveillance strategy put in place by Gary Gensler, Chairman of the United States Securities and Exchange Commission (SEC) for the crypto ecosystem.

Emmer has spoken out against Gensler's "blind and inconsistent approach" to crypto surveillance. On March 16, the congressman revealed that he had been approached by many crypto and blockchain companies who thought Gensler's reporting demands were too heavy and stifling innovation.

We're even more worried now as we've seen his strategy fail Celsius, Voyager, Terra/Luna-- and now FTX.

— Tom Emmer (@RepTomEmmer) November 25, 2022...