**Crypto Regulatory Showdown: SEC Faces Congressional Heat 🔥**

- SEC Chair Gary Gensler and all five commissioners testified before the U.S. House Financial Services Committee, facing criticism for their aggressive crypto enforcement.

- Lawmakers blasted the SEC's "scorched earth" approach, with Rep. French Hill and Commissioner Hester Peirce arguing for clearer regulations.

- Rep. Tom Emmer criticized Gensler for coining terms like "crypto asset security," which the SEC has since retracted.

- Chair Patrick McHenry and others demanded transparency on SAB 121 exemptions, alleging unfair advantages in crypto custody.

What do you think? Share your thoughts below! 💬