US Congressman Slams Gary Gensler For Being Most “Lawless” And “Destructive” Chair In SEC History
US Congressman Tom Emmer slammed Securities and Exchange Commission (SEC) Chair Gary Gensler , calling him the most “lawless” and “destructive” Chair in the regulator’s history. “Your inconsistencies on this issue have set this country back,” Emmer said to Gensler at a Sept. 24 House Financial Services Committee hearing. “We could not have had a more historically destructive or lawless chairman of the SEC.” Gary Gensler Made Up The Term “Crypto Asset Security” Emmer accused Gensler of making up the term ”crypto asset security,” which “is nowhere to be found in statute.” In addition to making up the term, Gensler also failed to specify how this term is defined within the SEC, according to the Congressman. By coming up with a new term to class digital assets, the SEC was able to carry out its “enforcement crusade” against the crypto industry over the last three years, Emmer said....