United States senator and crypto skeptic Elizabeth Warren wants the Securities Exchange Commission (SEC) to “double down” on its crypto enforcement efforts, highlighting that the cryptocurrency industry is running “scared” for what’s to come next.
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However, not all U.S. senators appear to have put Gensler’s SEC on the same pedestal.
New York Senator Ritchie Torres asked the U.S. Government Accountability Office on Dec. 6 to conduct an investigation into the SEC’s failure to examine and expose FTX’s alleged fraud months before the cryptocurrency exchange collapsed:
“One cannot have it both ways, asserting authority while avoiding accountability.”
A few days later, on Dec. 10, Minnesota Senator Tom Emmer slammed the SEC and Gensler for his flawed “crypto information-gathering efforts” following FTX’s meltdown, saying that he should have to explain the cost of his “regulatory failures” to Congress.
