Authorities in both countries are reportedly in conversation about whether to bring the former FTX CEO back to the United States.

Gary Gensler, the Chair of the U.S. Securities and Exchange Commission was questioned in a letter by eight members of the U.S. Congressional Blockchain Caucus concerning the treatment of SEC towards crypto firms.  Congress Members’ Crypto Probe The initiative was spearheaded by Congressman Tom Emmer (R-MN) on March 16, 2022. Emmer took to Twitter stating that the U.S. Congress office had been receiving several tips from many crypto and blockchain firms alike.  These tips were shared in regards to Gensler’s ‘requests’ to the crypto community that was burdensome, not voluntary, and were bordering towards ‘stifling innovation.’ My office has received numerous tips from crypto and blockchain firms that SEC Chair @GaryGensler’s information reporting “requests” to the crypto community are overburdensome, don’t feel particularly… voluntary… and are stifling innovation. — Tom Emmer (@RepTomEmmer) March 16, 2022 Tom Emmer replied to his tweet by sharing his bipartisan letter to the SEC Chair which was highly appreciated by the Blockchain Association. The Association gave the due credits to the eight members including Emmer, Darren Soto, Warren Davidson, Jake Auchincloss, Byron Donalds, Josh Gottheimer, Ted Budd, and Ritchie Torres. This is why I sent a bipartisan letter today to SEC Chair @GaryGensler with @RepDarrenSoto, @WarrenDavidson, @RepAuchincloss, @RepDonaldsPress, @RepJoshG, @RepTedBudd, and @RepRitchie regarding the SEC’s crypto information seeking process. pic.twitter.com/8HcTgZA0XL — Tom Emmer (@RepTomEmmer) March 16, 2022 The letter alleged the Securities and Exchange Commission’s Chair in gathering information in an inconsistent manner, which was the polar opposite to Commission’s standards for “initiating investigations.” Gary Gensler is known for being a nemesis of the crypto industry for a long time.

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A group of congressmen are appealing to the US Securities and Exchange Commission (SEC) to be more accommodative to the crypto industry, criticizing the agency’s current stance on the space. Writing to SEC Chair Gary Gensler, Tom Emmer of Minnesota, Darren Soto of Florida, Warren Davidson of Ohio, Jake Auchincloss of Massachusetts, Byron Donalds of […]

The post US Lawmakers Call Out SEC For Putting Unnecessary Burden On Crypto, Stifling Innovation appeared first on Coin Bureau.

Particularly, the members of Congress imply that the SEC is misusing its investigative divisions. 

The post Congressmembers demand answers from SEC on crypto company probes appeared first on The Block.

House representatives have reintroduced a bill that aims to give tax relief to small crypto transactions, exempting traders from paying taxes on payments less than $200. First introduced in 2020, the Virtual Currency Tax Fairness Act is an amendment to the Internal Revenue Service’s tax code, and has been resurfaced by Reps. Suzan DelBene (D-Wash.), […]

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