As the U.S. House of Representatives weighs legislation on next year’s spending, a provision was added on Wednesday that would deprive funding from U.S. Securities and Exchange Commission (SEC) enforcement actions against crypto businesses.
The move – authored by Majority Whip Tom Emmer (R-Minn.), one of the industry’s closest allies on Capitol Hill – was targeted at SEC Chair Gary Gensler, who Emmer criticized Wednesday as trying to steer the crypto industry with enforcement actions rather than policy.
Source: U.S. House’s Spending Bill Aims to Hamstring SEC’s Gensler Amid His Crypto Crackdown
