U.S. House committee chairs, Blockchain Association turn up heat on SEC head Gensler
U.S. House of Representatives committee chairs sent a letter to Securities and Exchange Commission Chair Gary Gensler on June 28 demanding an adequate response to their inquiry about the agency’s recordkeeping. ...
- Three committee chairs in the United States House of Representatives have sent a letter to SEC Chair Gary Gensler demanding a more satisfactory response to their inquiry regarding the SEC's compliance with recordkeeping requirements.
- The response they received did not address their direct requests for certification of compliance with federal recordkeeping and transparency rules, clarification on the use of private email accounts, and explanations of "off-channel communications."
- The congresspeople were responding to a Wall Street Journal report criticizing the SEC and other agencies for poor recordkeeping practices.
- The letter also cited inconsistencies in Gensler's publicly accessible meeting schedules in 2021.
- The Blockchain Association released a paper arguing that Gensler should recuse himself from digital asset enforcement decisions, citing his view that all digital assets other than Bitcoin are unregistered securities.
The article highlights concerns raised by committee chairs in the House of Representatives regarding the SEC's response to their inquiry on recordkeeping requirements. The sentiment is negative as they express dissatisfaction with the response received.