Republican congressman Tom Emmer, who is well-known for his positive stance on cryptocurrencies, has criticized Gary Gensler, the Chair of the United States Securities and Exchange Commission (SEC), for his approach to cryptocurrency regulation.
Emmer called Gensler a “bad faith regulator” during an appearance on the Unchained podcast, and accused him of neglecting the real issues while blindly imposing enforcement actions on the crypto community.
He cited the example of Coinbase, which was seeking compliance feedback from the SEC before being slapped with a Wells notice in March. Emmer’s comments reflect growing concerns in the crypto community over the SEC’s “regulation by enforcement” approach.
