US Congressman Seeks Two Investigations into SEC’s Approach to Crypto Regulation

US Representative Ritchie Torres has called for two separate investigations into the Securities and Exchange Commission (SEC) in two letters he made public. Torres criticized the SEC’s current approach, stating that instead of setting proper rules or providing guidance, the commission preferred to communicate through sanctions. However, he emphasized that this approach is not the way to regulate digital assets. Request for Investigation into SEC Recent developments, including lawsuits filed by the SEC against Binance and Coinbase, have increased tension between financial regulators and crypto companies. The SEC has faced intense criticism during this process. Additionally, a historic decision was made in the Ripple case yesterday. A US judge ruled that Ripple’s XRP sales do not constitute an investment contract, dealing a significant blow to the SEC’s reputation. Criticism towards the SEC is not limited to crypto company officials. In recent times, some members of Congress have also criticized the […] The post US Congressman Seeks Two Investigations into SEC’s Approach to Crypto Regulation appeared first on COINTURK NEWS.