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Congressmen seek clarity from SEC chief Gensler, on yield products, stablecoins
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Congressmen Warren Davidson, Tom Emmer, Ted Budd, Anthony Gonzalez, and Trey Hollingsworth have addressed a letter to the U.S. SEC Chair seeking clarity around crypto rules.
The development comes after a recent report by Bloomberg, discussing the SEC’s “significant authority” over tokens like Tether. Citing sources, it had said that an upcoming regulatory report by the US Treasury is set to establish SEC’s overarching authority in the sector.
On the back of that, Davidson stated,
“The crypto industry deserves regulatory clarity when it comes to yield products and stablecoins.”
He further added that he’s requesting this clarity from the ‘SEC so that innovation can thrive in the USA.’
In the past, the SEC chair had called for more investor
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