According to member of the House of Representatives Tom Emmer, the US Securities and Exchange Commission (SEC) interferes with the regulation of the cryptocurrency industry and acts unethically towards its participants.
During a meeting of the Financial Services Committee of the lower house of the US Congress, he has accused the regulator of politicizing the rules. He believes that the chairman of the department, Gary Gensler, has chosen the tactics of harassment and threats:
“Under Gensler, the SEC has become a power-hungry regulator that politicizes law enforcement by forcing companies to ‘come and talk’ with the Commission and then enforcing them to prevent good faith cooperation.”
Emmer has asked Gurbir Grewal, director of enforcement at the SEC, whether such checks are within the authority of the agency and what threatens companies that refuse to dialogue.