Congressman Grills SEC Representative on Crypto Regulation and Clarity

• Congressman Tom Emmer criticized the SEC’s lack of clarity on crypto regulation.
• SEC’s representative failed to answer affirmatively whether the agency has issued any guidance on how security laws apply to crypto.
• The Congressman accused the agency of deliberately obfuscating the regulatory issue.

In a recent congressional hearing, U.S. Congressman Tom Emmer engaged in a heated exchange with Valerie Szczepanik, the Head of the Strategic Hub for Innovation and Financial Technology at the U.S. Securities and Exchange Commission (SEC). 

The interrogation focused on the SEC’s approach to crypto regulation and the level of clarity provided to the market about how crypto assets can be deemed securities.

Congressman Emmer began by referencing a speech delivered by Bill Hinman, former SEC Director of the Division of Corporation Finance, in 2018. The speech discussed the…

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