House Democrats Claim SEC Is Denying Them Key Info on Crypto Bill
House Democrat staffers criticized the SEC for allegedly denying them technical assistance regarding the CLARITY Act, a bill aimed at regulating the crypto industry. The SEC typically provides such analysis to both parties, but Democrats claim that Republicans received detailed assistance while their requests were rebuffed. SEC officials labeled the requested documents as privileged. Concerns arose over the SEC's lack of cooperation, especially given the bill's potential to reshape regulatory frameworks. Democrats fear that the CLARITY Act could create loopholes for traditional finance if it exempts crypto from SEC oversight. Ranking Member Maxine Waters plans to request a written analysis from SEC Chair Paul Atkins to ensure informed policymaking. The bill is set for committee markup soon, and interparty tensions may affect its support among Democrats, particularly regarding the SEC's role in the process.
