Criticism of SEC Crypto Regulatory PracticesAccording to news on July 19, two Republican members of the U.S. House of Representatives have criticized the SEC's approach to regulating the cryptocurrency industry, saying its actions are aimed at covering up and undermining efforts to write comprehensive legislation. Reps. French Hill and Dusty Johnson wrote in a letter sent to SEC Chairman Gary Gensler on Wednesday: "While Congress is committed to closing the regulatory gap, the SEC has chosen to regulate through enforcement. This approach does not bring legal benefits. regulations and customer protections, which would instead create further confusion, as evidenced by the recent summary judgment.” The judgment referred to Ripple’s partial victory in its court battle with the SEC.
