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：新股)

• ·2025年八大以太币交易所排名介绍 做合约最好的交易所TOP榜
• ·十大数字货币交易平台 国内什么平台购买虚拟币靠谱
• ·跨年税控盘全额抵扣分录怎么做
• ·一文盘点 Solana Breakpoint 2024 重大项目进展
• ·光大银行信用卡过六天还款会算逾期吗？
• ·莱特币火币网
• ·卡尔达诺价格预测：ADA 反弹 13% 测试 1 美元突破区域
• ·什么rau什么n
• ·ETH行情一年
• ·王永利：应高度重视稳定币发展 推动数字人民币创新
• ·正规的币围交易平台 币围交易app正规排行
• ·火币钱包
• ·ram的实时行情-ram价格趋势
• ·无形资产摊销方法有哪些
• ·Fractal Bitcion主网启动：引领比特币网络新纪元的星火
• ·鲸鱼豪掷586万美元投资Solana Meme币，狂赚65.8万美元