Congressman Emmer Proposes Limiting SEC's Crypto Regulation Budget

Congressman Emmer Proposes Limiting SEC's Crypto Regulation Budget



Tom Emmer, a Republican Congressman from Minnesota and the Majority Whip in the House of Representatives is preparing to introduce an amendment to an appropriations bill. This proposal aims to restrict the U.S. Securities and Exchange Commission's (SEC) spending on cryptocurrency regulation. Emmer expressed concerns in a social media post that SEC Chair Gary Gensler is overstepping his authority, which could hinder the growth of digital currencies like Bitcoin in the U.S. Emmer believes that Congress needs to exercise proper oversight to prevent potential misuse of public funds by the SEC.



Meanwhile, Gary Gensler continues to express his reservations about the crypto market, particularly issues of fraudulent activities and non-compliance. This follows a legal decision on the status of XRP that contradicts the SEC's earlier


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