SEC chair Gary Gensler is coming under scrutiny in the wake of the collapse of FTX, with Rep. Tom Emmer (R-MN-06) demanding that he testify before Congress to “answer questions about the cost of his regulatory failures.” Fellow Congressman Ritchie Torres (D-NY-15) has called for an independent investigation into the SEC’s failure to prevent the collapse of FTX, singling out Gensler for claiming exclusive regulatory dominion over crypto exchanges, while simultaneously failing to meaningfully regulate them.
Last week, the SEC unveiled new guidelines for companies making financial disclosures, calling on them to provide a detailed record of their exposure to the crypto industry.
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