US Congressman Criticizes SEC & Gensler Over Crypto Regulations: Impact on Bitcoin (BTC) and SAB 121 Rule Explained
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- US Congressman Tom Emmer criticizes SEC Chair Gary Gensler for overstepping with SAB 121, risking investor trust and market efficiency.
- Emmer argues that Gensler’s approach to cryptocurrency regulation may lead to regulatory overreach and harm the market.
- Emmer has previously accused Gensler of an anti-cryptocurrency bias and overstepping the SEC’s regulatory scope.
US Congressman Tom Emmer criticizes SEC Chair Gary Gensler for his handling of SAB 121, arguing it risks investor trust and market efficiency. Emmer also accuses Gensler of an anti-cryptocurrency bias.
Emmer Criticizes Gensler’s Approach to Crypto Regulation
Tom Emmer, the House of Republicans’ majority whip, has criticized Gary Gensler, the Chairman of the Securities and Exchange Commission (SEC), for his handling of Staff Accounting Bulletin (SAB) 121. Emmer argues that Gensler’s approach opposes the SEC’s primary purpose—to protect investors, promote capital formation, and sustain fair, orderly, and efficient markets. This criticism arises from concerns that the new regulation could lead to regulatory overreach.