US House Financial Services Committee Chair Rep. McHenry Accuses SEC Chair of Avoiding Answering Questions

House Financial Services Committee Chair Patrick T. McHenry accused US Securities and Exchange Commission Chair Gary Gensler of heading off requests for statistics about cryptocurrency-associated matters, going to this point as to threaten a hearing if they don’t hear back quickly.

Reps. McHenry, R-N.C. And Bill Huizenga, R-Mich., despatched a letter to the SEC Chair this week annoying responses to questions on former FTX CEO Sam Bankman-Fried and approximately the procedure of digital asset exchanges registering with the regulator.

The House Financial Services Committee, which oversees the SEC, has held several crypto hearings this year — including one about stablecoins slated for subsequent week.

Gensler appeared earlier than the committee on April 18, which got heated whilst McHenry requested the SEC chair whether or not ether was a security or a commodity, which he said trusted positive situations.Huizenga and McHenry said they requested about the charges in opposition to Bankman-Fried again in February to which Gensler produced 232 pages of files.

All of those had been publicly available, they stated.

Later on, in March, SEC personnel despatched a wellknown briefing about the business enterprise’s enforcement department, they stated.

“While informative, this briefing become no longer attentive to the February request,” the Republican lawmakers stated.

Ultimately, SEC workforce said they have been “now not in a role to provide anything in addition at that point,” they wrote.

The committee additionally despatched a letter soliciting for a listing of digital asset entities that have attempted to sign in seeing that Gensler became chair, in addition to how that procedure works.

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