SEC boss scrutinized over crypto rulemaking and FTX ties
During a Sep. 27 hearing, policymakers hammered Gary Gensler over the Security and Exchange Commission’s (SEC) non-compliance with requests for documents including records related to bankrupt crypto exchange FTX and its founder Sam Bankman-Fried. Rep. Patrick McHenry voiced skepticism regarding Gensler’s commitment to remedying bipartisan legislative concerns and protecting investors, noting that Congress’s patience was “wearing thin”. @SECGov Chair @GaryGensler continues his blatant disregard for Congress in pursuit of a radical agenda that threatens the integrity of our financial markets, protection of investors, & our economic competitiveness. Our patience is wearing thin. #WATCH my opening remarks ️ pic.twitter.com/MTJIdNaBGD — Patrick McHenry (@PatrickMcHenry) September 27, 2023 “Bitcoin does not meet the Howey test which is the law of the land about being an investment contract,” Gensler said about treating Bitcoin as a security. The SEC ...