US lawmaker urges SEC to reassess crypto stance after the Ripple ruling. Representative Torres calls for limiting enforcement to actual bad actors, not treating most crypto assets as securities.
New York Rep. Ritchie Torres has called on United States Securities and Exchange Commission Chair Gary Gensler to reconsider the regulator’s position on crypto following a “dreadful day in court."the SEC limit its enforcement cases to “bonafide bad actors” rather than “indiscriminately” treating the majority of crypto assets as securities under its purview.
“Under Chair Gensler, the SEC has not issued a single rule on crypto assets, nor has it given any clear guidance," said Torres."All it has done is sent mixed messages, one after the [other], not only contradicting the CFTC but often contradicting itself.”In light of the SDNY’s landmark decision in the Ripple case,
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