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House Financial Services Panel Takes SEC to Task on Rulemaking Pace and Crypto Policy
Summary
In a full-commission oversight hearing, House Financial Services members clashed over SEC Chair Gary Gensler's rulemaking agenda, calling for clearer statutory direction on digital assets and criticizing the agency's use of enforcement in place of rulemaking; the commission defended its actions as investor protection.
The House Financial Services Committee convened a full-commission oversight hearing on the Securities and Exchange Commission that turned into a broad critique of SEC Chair Gary Gensler's tenure and agenda. Chair McHenry opened the hearing by saying the agency has 'become a rogue agency' under its current leadership and listed recent judicial reversals of SEC rules as a sign the agency is overreaching. "Under Chair Gensler, the SEC has become a rogue agency," Chairman McHenry said during his opening remarks.
Ranking Member Maxine Waters began by praising the SEC's enforcement record and urging the panel to work toward…
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