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The Week in Crypto Policy: SEC Sanctions, Oversight, & Funding
Key Insights
- A federal district court sanctioned the SEC for knowingly making misleading statements in its case against a crypto firm; Republicans in Congress took notice.
- At an SEC oversight hearing, Members debated the policy and process behind Chair Gensler's rulemaking agenda, with a few bringing up regulatory uncertainty for digital assets and SAB 121.
- The SEC says it needs more funding to address market growth, market changes, and the "Wild West of the crypto markets."
- HFSC Chair Patrick McHenry (R-NC) and Senator Cynthia Lummis (R-WY) said stablecoin legislation is still possible this year, but finding a legislative vehicle remains key.
Court Sanctions SEC for Making Misleading Statements
The Order
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George Leonardo is the founder of Cap Hill Crypto, a solo-entrepreneur venture focused on providing nonpartisan insights and analysis on U.S. federal crypto policy. Previously, he worked on Capitol Hill for Senator John Cornyn and as a litigation associate at Milbank LLP.