U.S. Senator calls on SEC Chairman Gary Gensler to be accountable for "regulatory failures"

ChainCatcher News, U.S. Senator Tom Emmer from Minnesota fiercely criticized the "flawed" "crypto information gathering efforts" of SEC Chairman Gary Gensler, insisting that Gensler should appear before Congress to explain the costs of his "regulatory failures." Previously, Emmer also stated on Twitter that Gensler's lack of leadership was one of the reasons for the catastrophic collapse of FTX in early November.

The senator pointed out that the SEC's efforts to obtain information from cryptocurrency companies are not "targeted, intentional, or explicit," but rather "random and unfocused." Gensler has been avoiding questions regarding the methods and processes the SEC will employ in overseeing the digital asset industry. (Cointelegraph)