Congressman Tom Emmer: "Gary Gensler is not regulating in good faith. He’s been blindly spraying the crypto community with enforcement actions while completely missing the truly bad actors"

Congressman Tom Emmer seems to have had enough of Gensler. He called out the SEC and Gary Gensler for their hypocrisy and hidden agenda when it comes to cryptocurrencies.

"This guy in my mind, is a bad-faith regulator. He’s been blindly spraying the crypto community with enforcement actions while completely missing the truly bad actors"

Using Coinbase as an example he points out that for months Coinbase has been trying to get feedback from the SEC regarding Coinbase's planned staking products. Yet after months of meetings, no feedback was provided and instead the SEC hits CB with a Well's notice regarding those very products that CB was asking for help with

"And instead, after all these meetings and nothing happening, the SEC slapped Coinbase with a Wells Notice regarding the very issues on which Coinbase was asking for their feedback."

"This is clearly not the way the government should be serving Americans, and that it sends a clear message, I believe, to the broader crypto community, and that directly is ‘Gary Gensler is not regulating in good faith' "

CB had reached out to the SEC after Gary himself had said "I’ve suggested that [crypto] platforms and projects come in and talk to us" in order to clarify any regulatory doubts and register future products with the SEC.

Yet in this case contacting the SEC only led to them using the info provided by Coinbase to sue Coinbase. They set the rules. You play by the rules. You still get burned.

Heres the interview where Emmer made the comments