Republican representatives Patrick McHenry and Bill Huizenga have expressed worry with the Securities and Exchange Commission (SEC) chair Gary Gensler in their latest public letter.
Earlier in March, eight members of the Congressional Blockchain Caucus имао такође упитан the SEC’s clampdown on the crypto industry.
This time, the leaders in the House Financial Services Committee questioned the SEC’s proposed changes to the definition of “размена” and that of “трговац” in two separate proposals from earlier this year. They stated that the changes could stunt the growth of the crypto sector and decentralized finance.
Crypto growth under SEC’s jurisdiction
McHenry and Huizenga argued, “We are particularly concerned the proposed rules can be interpreted to expand the SEC’s jurisdiction beyond its existing statutory authority to regulate market participants in the digital asset ecosystem, including in decentralized finance (дефи) ".
They essentially highlighted the SEC’s January proposal that took an expansive view of entities marked as размена. The officials worry that this change could mark “a step that exceeds the SEC’s statutory authority.” The other proposal concerns the regulator’s March rule that defined “as a part of regular business” under a “dealer.”
As part of the major concerns, the letter stated, “The SEC’s analysis in both proposals is insufficient to justify such proposed changes.”
Source: https://beincrypto.com/republican-policymakers-want-sec-chair-to-re-propose-crypto-rules/