7 US State Governors Criticized SEC for Its Opposition to Bitcoin and Altcoins!
Some US state governors have criticized the SEC's anti-crypto stance.
Officials in the US states of Iowa, Arkansas, Indiana, Kansas, Montana, Nebraska and Oklahoma have united against the US Securities and Exchange Commission (SEC), calling its approach to regulating cryptocurrencies "stifling" for the industry.
This coalition was led by Iowa Attorney General Brenna Bird, who was supported by six other states. Bird argues that the SEC has overstepped its authority regarding the crypto industry.
Some officials in the US think that the SEC's moves are stifling innovation and harming the crypto industry. Iowa Attorney General Brenna Bird gave the following words on the subject:
âThe SEC under Joe Biden is trying to prevent Iowa and other states from doing their job of protecting people from cryptocurrency scams and bringing criminals to justice.
The SEC is trying to take control of the cryptocurrency industry without any accountability. âThe regulator is harming the free market with its actions.â
In his final statement, the prosecutor also said that the SEC acted by circumventing Congress and existing consumer protection laws. US state officials believe the SEC has illegally granted itself new powers.#SEC.
