U.S. Congressman Requests to Investigate Into The SEC
Rep. Torres requests two investigations into the SEC's handling of digital assets, citing irregularities and unfair practices.
Congressman Ritchie Torres has asked for two independent investigations of the U.S. Securities Exchange Commission (SEC). He says the SEC is not handling digital assets well.
Rep. Torres, from New York, has requested investigations into two issues. One issue is that the SEC has given a special license to Prometheum, a company that claims to trade digital assets but doesn't. The second issue is that the SEC has not created a clear and practical way for real digital asset platforms to register.
"The choice to give a license to a misleading company shows Chair Gary Gensler's attempt to influence the registration process unusually. The SEC's way to register real trading platforms leads nowhere," Torres wrote.
Torres sent one letter to the SEC's Inspector General Deborah Jeffrey and another to Gene Dodaro from the Government Accountability Office. He said the SEC was like a traffic officer who randomly gives speeding tickets and leaves drivers unsure about the speed limit. He added, "Regulating by punishing is not the right way to regulate."
