Two U.S. Senators have written to Gary Gensler, the chair of the Securities and Exchange Commission (SEC), requesting an explanation for the fictitious tweet that the SEC sent out on Tuesday, claiming that several spot Bitcoin ETFs had been approved.
Senators JD Vance (R-OH) and Thom Tillis (R-N.C.) wrote in a letter to SEC Chair Gary Gensler to “express concern and request clarity” about the SEC’s social media postings.
They also stated that the incident raises “serious concerns” about the cybersecurity practices of the regulator. The two also wanted an explanation of the SEC’s “plans to investigate the error.”
Additionally, it was described as being “antithetical to the Commission’s tripartite mission to facilitate capital formation, maintain fair, orderly, and efficient markets, and protect investors.”
Concerned about the latest intrusion, which they said caused “widespread confusion,” the two senators have asked the SEC to submit a report on the event to Congress, citing a rulemaking on cybersecurity disclosures that was recently enacted.
The deadline for the letter sent on January 9 is January 23. The letter also reminded that, “If this ‘compromised’ social media post was indeed a result of a cybersecurity attack, would it be possible for the Commission (SEC) to provide Congress with a report on the breach within four business days? If not, please explain why.”
On January 9, a fake tweet was posted by the SEC’s X account indicating that spot Bitcoin exchange-traded funds (ETFs) have been authorized in the US.
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