The U.S. House passed an amendment to a federal budget proposal filed by Congressman Tom Emmer that would restrict the Securities and Exchange Commission’s funding for crypto enforcement.
Rep. Tom Emmer added a provision in the House GOP spending bill that would block the SEC from using government funds to pursue crypto companies until Congress weighs in on who has jurisdiction over crypto.Pro-crypto Congressman Tom Emmer is advancing an amendment aimed at depriving the United States securities regulator from using government funds to go after crypto enforcement.
My amendment prohibits the SEC from using taxpayer-funded resources to pursue enforcement actions against the digital asset industry until Congress passes legislation that authorizes regulatory enforcement jurisdiction.While the amendment has advanced, the House’s budget where it’s included will need to still face a reconciliation committee before it’s passed.
In a Nov. 8 statement, Emmer suggested the Department of Justice, the Treasury and the Treasury’s Office of Foreign Asset Control can handle “future bad actors like FTX.” “SEC Chair Gensler cannot continue to abuse the powers of his agency to fulfill a political agenda of driving the new and promising digital asset industry offshore.”reduce the SEC chairman’s salary to $1
House Republicans are set once again to crank up their"Holman Rule" machine, this time on Financial Services Approps/HR 4664 – to reduce to $1 the salaries of the SEC Chairman, the IRS Commissioner, the head of the WH Domestic Policy Council, and… the WH Press Secretary!The budget expires on Nov. 17, when the House and Senate proposals must be reconciled or temporary funding approved to avoid a government shutdown.
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