6/13/2023, 8:36:24 PMPositive. +1
“The latest enforcement action against Coinbase is an egregious example of regulation by enforcement,” Rep. Ritchie Torres, a New York Democrat, told MarketWatch. “It demonstrates a complete contempt for Congress which is in the process of developing a framework” for crypto regulation.
Torres, who sits on the House Financial Services Committee that oversees the SEC, says Gensler’s current stance is evidence of a radical revision of his views on the technology from when he taught a course on blockchain and money at MIT in 2018.
“His view of the law has been constantly changing,” Torres said. “Mr. Gensler has gone from a crypto cheerleader to a crypto skeptic,” a change that Torres believes is motivated by politics. “He’s portraying crypto as the villain in order to portray himself as a political hero.”
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