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‘Gensler has been the worst thing for the SEC,’ says Rep. Tom Emmer

Rep. Emmer advocates for nonpartisan crypto regulation and criticizes SEC's restrictive policies.

Golden gavel with SEC emblem, Emmer SEC Critique.

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In a recent conference presentation at Consensus, Rep. Tom Emmer (R-MN) expressed his views on the current state of crypto regulation and the role of the Securities and Exchange Commission (SEC) under the leadership of Gary Gensler.

Emmer, a strong advocate for the crypto industry, criticized Gensler’s approach, stating, “Gary Gensler has been the worst thing that could ever have happened to the SEC. He has gone way beyond the authority that it has.”

The congressman argued that the SEC should be focused on promoting capital investment and new opportunities, but instead, “these guys are trying to stop it.”

He added, “His open door policy is the biggest frock that, you know what that ever existed. It’s literally, come on in, tell me what your project is, and then we’re going to sue you.”

Emmer also discussed the recent passage of the CBDC Act in the House, which aims to protect privacy and prevent the implementation of a “CCP Chinese Communist Party style surveillance tool” in the United States.

He emphasized that this is a bipartisan issue, stating, “We do not want a CCP Chinese Communist Party style surveillance tool ever being implemented, developed and implemented in this country.”

Looking ahead to the 2024 election, Emmer highlighted the growing importance of the crypto voter bloc, particularly among younger generations.

He noted that “there is a group of voters in this country, 18 to 40, and there’s a lot from other voting groups that are in this space. But this space in particular, this is where they live. They don’t trust people like me in Washington, DC, to tell them, oh, this is what you should be allowed to do on the Internet.”

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