The U.S. Senator of Wyoming, Cynthia Lummis has released a statement condemning the SEC’s enforcement actions on crypto space after the agency recently charged Kraken for operating as an unregistered securities exchange.
Cynthia said that “the SEC can not continue ruling by enforcement” while crypto companies repeatedly try to get guidance from the agency to operate under the legal framework. The enforcement actions on crypto companies are causing unnecessary harm to customers, the senator noted.
She further asked the U.S. Congress to pass a regulatory framework that states a clear differentiation between security and commodity for the federal agency.
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