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年币圈十大交易所最新排名一览
• ·加密货币分析师 Jason Pizzino 预测比特币周期高峰将于2026年上半年到来，并揭示价格目标
• ·桃花源大瀑布在哪里
• ·炒币行情官方
• ·最近的照相馆在哪里-离我最近的照相馆在哪里
• ·tc钱包-TC钱包下载
• ·轻松淡化胎记，这些方法要知道！如何去胎记
• ·10月31日安信价值成长混合C净值下跌0.77%，近1个月累计下跌6.89%
• ·币圈全球十大交易所排名 全球
• ·RGT币今日价格
• ·加密货币交易平台最新大全 世界知名btc交易所排名前10
• ·gcs币今日行情
• ·全球顶尖BTCapk下载_免费交易数字货币商城最新榜单
• ·怎么炒山寨币
• ·钱给够，心暖透，员工自然留！如何留住一线员工
• ·怎么看股票大盘走势