The US Congress criticized the Securities and Exchange Commission because of the political view of cryptocurrencies!

US Congressman Richie Torres has called for two independent investigations into the US Securities and Exchange Commission (SEC) regarding its haphazard and heavy-handed approach to crypto-assets. In two letters released Thursday, Rep. Torres (D-NY) requested an investigation into the SEC’s decision to grant a special purpose dealer-broker (SPBD) license to Prometheum, a non-exchange-traded cryptocurrency trading platform. demanded
In his letters, Torres criticized the SEC’s questionable decision to grant a license to a deceptive digital asset platform, which he argued represented the latest attempt by SEC Chairman Gary Gensler to politicize the registration process. He also stated that when it comes to trading platforms that work in the real world, the SEC’s path to registering these platforms will lead to nowhere.

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Torres sent one letter to SEC Inspector General Deborah Jeffrey and another to Gene Dodaro, the head of the State Audit Office. Torres argued that regulation by enforcement is not the way to regulate and called for a more rigorous and transparent process for registering crypto platforms.
The US Securities and Exchange Commission has not yet publicly responded to Torres’ letters. The call for research comes amid growing scrutiny of the SEC’s approach to regulating crypto assets, particularly initial token offerings (ICOs). The US Securities and Exchange Commission has been criticized for a lack of clarity and consistency in its approach, leading to confusion and uncertainty among market participants.