Lawmaker Slams “Power-Hungry” SEC in Hearing

Key Takeaways

  • The Securities and Exchange Commission Enforcement Director Gurbir Grewal admitted in Congress today that the agency subpoenas crypto companies and individuals that lay outside of its jurisdiction.
  • Rep. Tom Emmer stated that the regulator was trying to “jam” crypto companies “into a violation.”
  • The agency’s approach to crypto regulation is widely criticized across the crypto industry; it has also received backlash from one of its own commissioners.

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