U.S. Representative Tom Emmer proposed an appropriation amendment that would limit the SEC’s enforcement actions against the encryption industry

Odaily News House Majority Whip Tom Emmer, who has previously expressed concerns about the US SEC’s encryption regulatory practices, once again proposed a major amendment on September 8. In his statement, Emmer criticized SEC Chairman Gary Gensler for overstepping his authority and causing a negative impact on the American people, and urged Congress to use existing methods and appropriate procedures to prevent Gary Gensler and the SEC from abusing taxpayer funds. Specifically, Emmer intends to introduce an appropriations amendment that would limit the SEC’s use of funds for crypto enforcement actions until comprehensive rules and regulations are developed. (Cointelegraph)