US Securities and Exchange Commission (SEC) Chairman Gary Gensler was heavily criticized by lawmakers from both parties during a congressional hearing yesterday for mishandling cryptocurrency regulation issues.

The lawless SEC chairman

According to The Block, during the House Financial Services Committee hearing on Tuesday, Republican whip Tom Emmer asked Gary Gensler about the case between the SEC and cryptocurrency startup DEBT Box. A federal judge in Utah once criticized the SEC for poor performance in handling the case, stating that their actions were inappropriate. In the end, the institution was ordered to pay sanctions, including legal fees and related expenses. The judge also criticized the misleading statements made by the SEC, which acknowledged that it did not meet the expected standards.

Tom Emmer directly asked Gary Gensler, "Don't you feel embarrassed when we talk about this today

Regarding this, Gary Gensler responded, "The handling of this case is indeed not very good

On the other hand, Tom Emmer also criticized Gary Gensler as the most "destructive" and "lawless" chairman in the 90 year history of the regulatory agency during the hearing. Tom Emmer told Gary Gensler during the House Financial Services Committee hearing:

You created the term cryptocurrency securities. We cannot have a more historically destructive or lawless SEC chairman

Over the years, many members of Congress have criticized the SEC's cryptocurrency regulatory approach, believing that the rules for the industry are not clear enough. But there is also a group of lawmakers who are cautious about cryptocurrencies, such as Maxine Waters from the Democratic Party, who believe that the SEC is fulfilling its responsibility to protect investors and ensure that the US capital market maintains a global leading position.

This hearing coincides with the election season, and cryptocurrency has become a hot topic. According to a report by consumer advocacy group Public Citizen, cryptocurrency companies have already spent $119 million in 2024, with the majority of funds flowing into political action committees, particularly the Fairshake PAC.

Tom Emmer also mentioned Vice President He Jinli's recent remarks on cryptocurrency. He Jinli stated that she will "encourage innovative technologies such as artificial intelligence and digital assets, while protecting consumers and investors," and will create a "transparent and consistent business environment.

Tom Emmer asked Gary Gensler:

Is this also your strategy? Or is she criticizing you because she thinks you haven't been able to establish clear enough rules in her government over the past three years

Gary Gensler stated that there are currently legal norms in place, but Congress can change these laws, cleverly avoiding this issue and shifting responsibility back to Congress.

Comparison between baseball tickets and NFTs

On the other hand, Democratic Congressman Ritchie Torres also raised questions about how the SEC defines securities, using the example of tickets for the New York Yankees. The cryptocurrency supporter asked Gary Gensler if purchasing a Yankees ticket would be considered a security, and pointed out that the ticket allowed him to enter and watch the game.

The background of Ritchie Torres' question is that the SEC has sued multiple NFT issuers, accusing them of issuing unregistered securities, including Stoner Cats 2 LLC.

Ritchie Torres asked:

From a legal perspective, is there any difference under federal securities law between buying a ticket to watch a Yankees game and buying an NFT to watch an animated web series

Gary Gensler responded that it depends on how the product is provided and sold, and cited Howey's test to illustrate whether there is an investment contract. This test is based on the 1946 ruling of the United States Supreme Court and is used to determine whether an asset belongs to securities.

Regarding this, Ritchie Torres retorted, "People's expectations of whether something can appreciate in value or be sold for profit in the secondary market can apply to any collectible, consumer goods, artwork, or musical work

(责任编辑：私募资讯)

• ·多空飞弹中的黄金逆袭：下一个爆点在哪里？｜黄金头条
• ·交易大神眼中的「正指」和「反指」
• ·莱特币什么时候出的 莱特币什么时候出来的
• ·请问绵阳市住房公积金贷款申请材料有哪些？我想在绵阳市买房。
• ·热带有什么气候什么-热带什么气候什么气候什么气候什么气候
• ·bch如何挖矿
• ·如果 SUI 达到 8.10 美元且以太坊达到 4,750 美元，专家预测 2025 年 XRP 价格
• ·以太币怎么购买 以太币怎么购买最划算
• ·干旱是什么变成什么
• ·人人贷和安心贷哪个好？贷款条件是什么？
• ·重钱包轻钱包
• ·以太币2017价格-以太币2017年价格
• ·退付手续费核对是什么意思
• ·以太币2014价格
• ·卡尔达诺创始人霍斯金森计划推动集体诉讼，反击诽谤与加密媒体恶意报道
• ·比特币见顶信号显现，系统性风险走高