In the US called to check the SEC because of the approach to regulation


Democratic Congressman Richie Torres has demanded an investigation into the U.S. Securities and Exchange Commission (SEC) for its “haphazard and arbitrary approach to digital assets.”

In the US called to check the SEC because of the approach to crypto regulation
Data: Twitter.

“The SEC is behaving like an overzealous traffic cop, arbitrarily issuing tickets to drivers while keeping the speed limit secret. [Ведомство] prefers to communicate through coercion rather than rules or guidelines,” the politician said.

The reason for the request was a Special Purpose Digital Securities Broker-Dealer License issued by the Commission to Prometheum.

“The questionable decision to license a misleading digital asset platform reflects an attempt by the chairman [ведомства] Gary Gensler to politicize the filing process to a level rarely seen in the history of the SEC,” Torres said.

He sent a demand for an investigation to the office of the regulator’s inspector general and the Accounts Chamber.

Earlier, Republican Senator Tommy Tuberville urged the Department of Justice and the SEC to look into the activities of Prometheum. The politician suspected company CEO Aaron Kaplan of lying under oath during congressional hearings and violating securities laws.

The firm has also faced harsh criticism as industry participants have rejected the viability of Prometheum’s proposed model for trading digital assets as securities.

In April, Torres accused the SEC chairman of not learning from the FTX collapse, pointing to investigations into US firms. [Coinbase и других]. At the same time, the representative from Ohio in the lower house of Congress, Republican Warren Davidson, introduced a bill suggesting the resignation of Gensler from his post.

On June 6, the Commission filed a lawsuit against the crypto exchange, accusing it of violating securities laws. The day before, the agency filed a claim against Binance and CEO Changpeng Zhao.

Recall that in mid-June, US congressmen submitted a bill to dismiss Gensler and restructure the SEC due to “continued abuses” of the head of the department.

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