Congressman Ritchie Torres Calls for Investigations into SEC’s Approach to Digital Assets
Congressman Ritchie Torres has called for two independent investigations into the U.S. Securities Exchange Commission (SEC) for its handling of digital assets. In two public letters, Rep. Torres requested investigations into the SEC’s granting of a special purpose broker-dealer license to Prometheum, a platform that does not trade digital assets, and its failure to establish a proper registration process for real-world digital asset platforms. Rep. Torres criticized Chair Gary Gensler for politicizing the registration process and stated that the SEC’s approach to trading platforms is ineffective and lacks clarity. The letters were addressed to the SEC’s Inspector General and the Government Accountability Office’s Comptroller General.
Key points:
– Rep. Torres wants investigations into the SEC’s licensing of Prometheum and its registration process for digital asset platforms.
– He accused Chair Gary Gensler of politicizing the registration process and criticized the SEC’s approach to trading platforms.
– The letters were sent to the SEC’s Inspector General and the Government Accountability Office’s Comptroller General.
Hot Take: Rep. Torres Urges for Accountability and Clarity in SEC’s Handling of Digital Assets
Congressman Ritchie Torres has raised important concerns about the SEC’s approach to digital assets and called for investigations into its actions. He believes that the SEC’s licensing of Prometheum and its lack of a proper registration process for real-world digital asset platforms are evidence of a haphazard and heavy-handed approach. Rep. Torres emphasizes the need for accountability and clarity in regulating digital assets, criticizing the SEC’s current methods as ineffective and unclear. These investigations will hopefully shed light on the SEC’s actions and lead to improvements in its approach to digital assets.
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