In the News

WASHINGTON – Today, Majority Whip Tom Emmer slammed Securities and Exchange Commission (SEC) Chairman Gary Gensler ahead of his testimony before the House Financial Services Committee. Whip Emmer argued that Gensler “has wasted a large part of the SEC’s resources to wage war on the crypto industry.”

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Whip Emmer: “At this moment, the House Financial Services Committee is starting its hearing with Securities and Exchange Commission Chairman Gary Gensler. In an era where bipartisanship can feel scarce, Gensler has done such a terrible job running the SEC that he has managed to unite members on both sides of the aisle in condemning his failed leadership. Gary Gensler has worked to consolidate his own power even though it means crushing opportunities and, frankly, the financial future of this country. Rogue bureaucrats like Gensler are supposed to be working for the people, not reigning over them. He has wasted a large part of the SEC’s resources to wage war on the crypto industry. This strategy however has not been successful for him as the SEC continues to lose again and again in the courts on its crusade against digital asset innovation in this country. It is time for the SEC to return to its mission and protect opportunities for every American who wants to participate in the greatest capital markets in the world. Digital asset innovation is an important part of that. What Gary Gensler doesn’t understand is fighting against crypto innovation in America isn’t going to stop it. He is only going to push crypto innovation off of American soil. This is exactly how disasters like FTX occur. The United States should want digital asset businesses under its regulatory umbrella and purview so we can have a safer digital asset ecosystem. Many people are concerned that Kamala Harris would actually appoint Elizabeth Warren or Gary Gensler to be her Treasury Secretary, which would only make matters worse. Their mission to upend free markets, innovation, and global competitiveness would destroy our financial system. We can’t let that happen. America is ready for the pro-crypto president and there is only one candidate who has promised to fire Gary Gensler on day one. I look forward to participating in this committee hearing after I leave here and to holding Chairman Gensler’s feet to the fire for the war he has waged against our financial system.”

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