“New accusuation”: Gensler is the worst SEC chairman in the history of the agency

Republican Congressman Tom Emmer voiced harsh criticism of the chairman of the US Securities and Exchange Commission. According to the politician, during the period when Gary Gensler headed the agency, the SEC began to sue crypto projects more often.

The regulator uses only coercive methods — courts — to manage the digital asset industry, the politician believes.

“We could not have had a more historically destructive, or lawless, Chairman of the SEC,” Emmer accused the official.

The politician recalled the trial between the SEC and Debt Box, when the regulator accused the company of fraud with digital currencies for $50 million, but in the end the case ended in favor of the company. The court considered the agency’s accusations false, ordered the payment of a fine and coverage of Debt Box’s legal costs. The judge also criticized the SEC for its “blatant abuse of power.”

And that’s not the only dig at the US Securities and Exchange Commission. Commissioner Esther Peirce believes that the SEC is deliberately using terms in the field of crypto assets that can be interpreted in different ways to create confusion. This tactic of the agency has led to the misconception that any cryptocurrency is a digital security.