Lawmakers slam SEC for inconsistent use of term 'crypto asset securities,' demand greater clarity
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Quick Take
- During a U.S House Financial Services Committee hearing on Sept. 24, Rep. Patrick McHenry, R-N.C., criticized SEC Chair Gary Gensler for using different terms to describe digital assets and said it raised questions about clarity.
- Earlier, during a congressional hearing, Rep. Ritchie Torres also took a jab at the SEC and accused the agency of making up terms “out of thin air.”
Over the past week, U.S. lawmakers took jabs at the U.S. SEC and accused the agency of being inconsistent in how it labels digital assets.
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