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Eight members of Congress from both parties have signed a letter to the Securities and Exchange Commission (SEC), questioning the agency’s power and attitude toward crypto-assets.

According to an article on the US political internet site ” The American Prospect, ” a bipartisan group of legislators has issued a letter to the SEC asking that Gary Gensler and his department explain their strategy to information collecting and enforcement, according to an article on the US political internet site “The American Prospect.”

Rep. Emmer, one of the eight signatories to the letter, moved to Twitter, citing “burdensome reporting requirements” as one factor that stifles crypto companies.

In response to the letter, the SEC may argue that it is an independent agency that conducts its investigations and that politicians are not allowed to try to sway its findings.

According to the story in the American Prospect, the letter has left the SEC in a difficult position. By continuing anyway, the SEC will appear to be “defying” lawmakers; meanwhile, if they agree, the SEC will be caving into pressure and intimidation.

The “blockchain eight,” as they’ve been called, remain unfazed. Rep. Torres also wrote an op-ed for the New York Daily News, arguing for the “loosening” of an “already unregulated industry” and mocking the New York Department of Financial Services (DFS).

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