Is SEC Chair Gary Gensler deliberately sabotaging crypto? US Congressman Ritchie Torres has continued his critical comments on US Securities and Exchange Commission (SEC) Chair Gary Gensler, this time accusing him of actively hindering the growth and innovation of the digital asset industry. The accusations come amid growing concerns about the SEC's regulatory approach to cryptocurrency, with many in the industry feeling stifled by what they perceive as overly strict enforcement and a lack of clear guidance.

The debate is intensifying. WASHINGTON - The clash between regulators and the crypto community is reaching a boiling point. Critics, including House Majority Whip Tom Emmer, criticized SEC Chairman Gary Gensler for acting in “bad faith” and obstructing the growth of the crypto industry in the U.S. Emmer added his voice to a chorus of dissent, suggesting that Gensler's actions are intentionally damaging the burgeoning crypto market.

Paul Atkins said on Friday that innovation in the crypto industry has been stifled for the last several years, and that changes are sorely needed. This sentiment echoes throughout the crypto space, with many arguing that the SEC's current approach is creating unnecessary hurdles for legitimate businesses and preventing the US from becoming a leader in blockchain technology. Paul Atkins, the chair of the Securities and Exchange Commission, laid out his vision for overhauling the agency's cryptocurrency policies on Monday, saying he plans to address these concerns. However, skeptics remain, questioning whether these proposed changes will truly foster innovation or simply maintain the status quo.

WASHINGTON (Reuters) -The new head of the U.S. Securities and Exchange Commission on Friday said that the agency has stifled innovation for the burgeoning cryptocurrency sector. This admission, while potentially signalling a shift in approach, hasn't quelled the criticism from figures like New York Democrat Congressman Ritchie Torres, who doubled down on his recent criticisms of Securities and Exchange Commission (SEC) chair Gary Gensler, accusing him of actively stifling innovation. The core of the argument revolves around the lack of regulatory clarity, with many claiming the SEC's ambiguity is being used as a weapon to target and control the crypto industry.

Is Gensler truly sabotaging crypto, or is he simply acting in the best interest of investor protection? The answer likely lies somewhere in the middle, but the escalating tensions between regulators and the crypto community highlight the urgent need for a more collaborative and constructive dialogue to ensure the responsible development of this transformative technology.