SEC Chair Gary Gensler must testify before Congress, says Rep. Tom Emmer

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The Caucus received info from several sources (FTX, as we’ve said repeatedly, was not one of them) that Gary Gensler 's efforts to gather info on crypto companies were not targeted, intentional, or clear; rather, the SEC's requests were haphazard and unfocused. We now know Gensler's crypto information-gathering efforts were ineffective. He declined to provide Congress with the information requested in the letter, which would've informed Congress of the apparent inconsistencies in Gensler's approach that caused him to miss Terra/Luna, Celsius, Voyager, and FTX.

Instead, Gensler decided to explain to Congress the roles of the SEC’s Enforcement and Examination Divisions.

Gensler has repeatedly dodged Congress at the expense of investors (hasn’t publicly appeared before the House Financial Services since October 5, 2021), leaving us to learn about the SEC's crypto investigations, like the one into FTX, through the media. 

Gary Gensler must testify before Congress and answer questions about the cost of his regulatory failures.