Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain
  • Web 3
    • NFT
    • Metaverse
  • Regulation
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Filmmaker David Goyer bets on blockchain for the next sci-fi franchise

2025-05-19

XRP Price forecast – ‘Mixed signals’ Mean Altcoin will move like this!

2025-05-19

Crypto analyst says that Bitcoin correction comes before the outbreak to the new all-time here is his prediction

2025-05-19
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
Facebook X (Twitter) Instagram
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain

    Filmmaker David Goyer bets on blockchain for the next sci-fi franchise

    2025-05-19

    Jesse Pollak explains how Pectra Upgrade will overload the basic network

    2025-05-19

    Ice Open Network welcomes Soonchain AI in its online+ ecosystem to stimulate web3 ai-game development

    2025-05-18

    Chainware and Karatdao work together to redefine security and identity in chains

    2025-05-18

    Declan Hannon about how Aurora Labs makes blockchain accessible to everyone

    2025-05-18
  • Web 3
    • NFT
    • Metaverse
  • Regulation

    Mastermind Behind Sec Sim -exchange schedule sentenced to 14 months in prison for manipulating Bitcoin price

    2025-05-18

    Capital One pays $ 425,000,000 to customers after they have reportedly cheated customers from a higher return on bank balance

    2025-05-18

    Myth or reality? Mica and its real impact on the market that dissolve common misconceptions

    2025-05-18

    Judge denies joint bid from Ripple and the SEC to end their long -term legal battle to end XRP

    2025-05-17

    A dozen new defendants who were sued in the alleged Rico -entry, connected to $ 263,000,000 crypto theft

    2025-05-17
  • Analysis

    Crypto analyst says that Bitcoin correction comes before the outbreak to the new all-time here is his prediction

    2025-05-19

    XRP – Price is struggling to keep the ground – breakdown or breathing break?

    2025-05-19

    The American stock market now looks more favorable than pre-trade war, according to Tom Lee from Fundstrat-Dit why is why

    2025-05-18

    Analyst who mentioned XRP price mark at $ 0.5 says that the increase in this level is coming

    2025-05-17

    Michael Burry van Big Short abruptly sells one ‘recession-proof’ assets

    2025-05-17
  • Learn

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-09
  • Blog
  • Contact
    • Tech7685@gmail.com
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Regulation»Emmer slams Gensler for ‘inconsistency, incompetence’ on SAB 121
Emmer slams Gensler for ‘inconsistency, incompetence’ over SAB 121
Regulation

Emmer slams Gensler for ‘inconsistency, incompetence’ on SAB 121

2024-05-07No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Republicans in the House of Representatives are gearing up to challenge the SEC’s controversial rule on digital asset custody, labeling it as an overreach of the agency’s authority.

During a press conference on May 7, Representative Tom Emmer, a leading Republican lawmaker, criticized the tenure of SEC Chairman Gary Gensler, calling it marked by “hypocrisy, inconsistency and regulatory incompetence.”

The issue at hand, known as Staff Accounting Bulletin 121 (SAB 121), has been criticized for crossing boundaries and showing bias against the digital asset ecosystem.

The SEC introduced SAB 121 more than two years ago and designated it as guidance. The rule, which aims to regulate how banks protect digital assets owned by consumers, was described as an attempt to expand the SEC’s authority while bypassing input from Congress and the public.

Emmer argued that the rule not only goes too far, but is also illegal and contrary to the SEC’s statutory mission. According to him, SAB 121 increases concentration risk in the digital asset ecosystem, making markets less fair and efficient.

The rule also restricts U.S. investors from using established banking infrastructure for digital asset custody, increasing vulnerability if a custodian becomes insolvent. Furthermore, the rule would hinder capital formation and global competitiveness by allowing foreign banks to compete in crypto markets while restricting US banks.

Emmer argued that Chairman Gensler violates all three objectives with SAB 121. He added:

“The SEC’s statutory mission is to protect investors, facilitate capital formation, and maintain fair, orderly, and efficient markets.”

Later this week, Republicans in the House of Representatives plan to adopt Congressman Mike Flood’s resolution to repeal the rule. They urged bipartisan support and emphasized the importance of a thriving digital asset ecosystem in the United States.

See also  Binance is considering exiting the Russian market

Bucket said:

“We hope our colleagues across the aisle will join us in this effort.”



Source link

Emmer Gensler incompetence inconsistency SAB Slams
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Mastermind Behind Sec Sim -exchange schedule sentenced to 14 months in prison for manipulating Bitcoin price

2025-05-18

Capital One pays $ 425,000,000 to customers after they have reportedly cheated customers from a higher return on bank balance

2025-05-18

Myth or reality? Mica and its real impact on the market that dissolve common misconceptions

2025-05-18

Judge denies joint bid from Ripple and the SEC to end their long -term legal battle to end XRP

2025-05-17
Add A Comment

Comments are closed.

Top Posts

Crust and Intract are working together to accelerate community engagement

2024-08-26

Trump vs. Biden’s Crypto Promise: US BTC Strategy Causes Market Upheaval

2024-07-30

Ethereum Price Shows Weakness: Can It Overcome the Struggle?

2024-08-10
Editors Picks

Altverse and Chainlink Unite in BUILD Program to Drive Decentralized Identity Adoption

2023-05-08

Bullish surge or volatile retest ahead?

2024-12-10

NFT project CyberKongz vows to ‘stand up and fight’ after receiving Wells notice from SEC

2024-12-18

The Courtyard NFT collection is in sale despite the fall in the market

2025-03-17

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Filmmaker David Goyer bets on blockchain for the next sci-fi franchise

XRP Price forecast – ‘Mixed signals’ Mean Altcoin will move like this!

Crypto analyst says that Bitcoin correction comes before the outbreak to the new all-time here is his prediction

Get Informed

Subscribe to Updates

Get the latest news and Update from Bitcoin Platform about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
© 2025 Bitcoinplatform.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$103,023.23-0.81%
  • ethereumEthereum(ETH)$2,400.52-4.29%
  • tetherTether USDt(USDT)$1.000.03%
  • rippleXRP(XRP)$2.31-3.21%
  • binancecoinBNB(BNB)$639.78-0.86%
  • solanaSolana(SOL)$161.75-5.48%
  • usd-coinUSDC(USDC)$1.000.02%
  • dogecoinDogecoin(DOGE)$0.217095-2.49%
  • cardanoCardano(ADA)$0.72-4.54%
  • tronTRON(TRX)$0.262509-3.65%
  • suiSui(SUI)$3.67-4.46%
  • chainlinkChainlink(LINK)$15.20-3.31%
  • avalanche-2Avalanche(AVAX)$21.65-6.01%
  • stellarStellar(XLM)$0.280397-3.63%
  • hyperliquidHyperliquid(HYPE)$25.69-3.79%
  • shiba-inuShiba Inu(SHIB)$0.000014-4.63%
  • unus-sed-leoUNUS SED LEO(LEO)$8.62-0.94%
  • hedera-hashgraphHedera(HBAR)$0.187332-3.60%
  • bitcoin-cashBitcoin Cash(BCH)$382.77-4.25%
  • the-open-networkToncoin(TON)$3.00-3.33%
  • litecoinLitecoin(LTC)$95.47-3.26%
  • polkadotPolkadot(DOT)$4.49-5.70%
  • moneroMonero(XMR)$344.321.17%
  • bitget-tokenBitget Token(BGB)$5.210.92%
  • daiDai(DAI)$1.000.00%
  • pepePepe(PEPE)$0.000013-3.92%
  • piPi(PI)$0.72-2.86%
  • ethena-usdeEthena USDe(USDE)$1.00-0.01%
  • uniswapUniswap(UNI)$5.74-3.74%
  • bittensorBittensor(TAO)$390.37-8.32%
  • aaveAave(AAVE)$220.09-2.28%
  • nearNEAR Protocol(NEAR)$2.69-3.00%
  • aptosAptos(APT)$4.99-4.08%
  • okbOKB(OKB)$52.01-2.17%
  • ondo-financeOndo(ONDO)$0.89-4.43%
  • kaspaKaspa(KAS)$0.104399-6.28%
  • internet-computerInternet Computer(ICP)$5.05-4.23%
  • ethereum-classicEthereum Classic(ETC)$17.71-4.10%
  • gatechain-tokenGateToken(GT)$21.37-0.93%
  • crypto-com-chainCronos(CRO)$0.094500-4.61%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.51-3.81%
  • mantleMantle(MNT)$0.73-1.11%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.230661-3.26%
  • vechainVeChain(VET)$0.027175-4.65%
  • render-tokenRender(RENDER)$4.41-5.60%
  • usd1World Liberty Financial USD(USD1)$1.000.00%
  • ethenaEthena(ENA)$0.351595-7.36%
  • filecoinFilecoin(FIL)$2.78-3.85%
  • algorandAlgorand(ALGO)$0.213740-4.06%
  • cosmosCosmos(ATOM)$4.69-2.33%
  • bitcoinBitcoin(BTC)$103,023.23-0.81%
  • ethereumEthereum(ETH)$2,400.52-4.29%
  • tetherTether USDt(USDT)$1.000.03%
  • rippleXRP(XRP)$2.31-3.21%
  • binancecoinBNB(BNB)$639.78-0.86%
  • solanaSolana(SOL)$161.75-5.48%
  • usd-coinUSDC(USDC)$1.000.02%
  • dogecoinDogecoin(DOGE)$0.217095-2.49%
  • cardanoCardano(ADA)$0.72-4.54%
  • tronTRON(TRX)$0.262509-3.65%
  • suiSui(SUI)$3.67-4.46%
  • chainlinkChainlink(LINK)$15.20-3.31%
  • avalanche-2Avalanche(AVAX)$21.65-6.01%
  • stellarStellar(XLM)$0.280397-3.63%
  • hyperliquidHyperliquid(HYPE)$25.69-3.79%
  • shiba-inuShiba Inu(SHIB)$0.000014-4.63%
  • unus-sed-leoUNUS SED LEO(LEO)$8.62-0.94%
  • hedera-hashgraphHedera(HBAR)$0.187332-3.60%
  • bitcoin-cashBitcoin Cash(BCH)$382.77-4.25%
  • the-open-networkToncoin(TON)$3.00-3.33%
  • litecoinLitecoin(LTC)$95.47-3.26%
  • polkadotPolkadot(DOT)$4.49-5.70%
  • moneroMonero(XMR)$344.321.17%
  • bitget-tokenBitget Token(BGB)$5.210.92%
  • daiDai(DAI)$1.000.00%
  • pepePepe(PEPE)$0.000013-3.92%
  • piPi(PI)$0.72-2.86%
  • ethena-usdeEthena USDe(USDE)$1.00-0.01%
  • uniswapUniswap(UNI)$5.74-3.74%
  • bittensorBittensor(TAO)$390.37-8.32%
  • aaveAave(AAVE)$220.09-2.28%
  • nearNEAR Protocol(NEAR)$2.69-3.00%
  • aptosAptos(APT)$4.99-4.08%
  • okbOKB(OKB)$52.01-2.17%
  • ondo-financeOndo(ONDO)$0.89-4.43%
  • kaspaKaspa(KAS)$0.104399-6.28%
  • internet-computerInternet Computer(ICP)$5.05-4.23%
  • ethereum-classicEthereum Classic(ETC)$17.71-4.10%
  • gatechain-tokenGateToken(GT)$21.37-0.93%
  • crypto-com-chainCronos(CRO)$0.094500-4.61%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.51-3.81%
  • mantleMantle(MNT)$0.73-1.11%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.230661-3.26%
  • vechainVeChain(VET)$0.027175-4.65%
  • render-tokenRender(RENDER)$4.41-5.60%
  • usd1World Liberty Financial USD(USD1)$1.000.00%
  • ethenaEthena(ENA)$0.351595-7.36%
  • filecoinFilecoin(FIL)$2.78-3.85%
  • algorandAlgorand(ALGO)$0.213740-4.06%
  • cosmosCosmos(ATOM)$4.69-2.33%