Emmer and colleagues play mega-CYA on crypto

I despise cryptocurrencies and I think they should be banned. But I'm not in charge of such matters, nor am I ever likely to be. Anyway:

Nearly nine months after a bipartisan group of U.S. House members sent a letter questioning the Securities and Exchange Commission’s investigation into cryptocurrencies, including the failed FTX exchange, the lawmakers are maintaining their position that the agency’s approach to regulating crypto is deeply flawed.

In public comments since FTX’s collapse last month, the congressmen, led by Minnesota Republican Tom Emmer, have largely called FTX’s demise a singular issue that deserves scrutiny.

They argue the episode only reinforces their point that the SEC’s regulation of cryptocurrencies is arbitrary and ineffective.

FTX co-CEO Ryan Salame was a major campaign contributor to the Congressional Leadership Fund, the political action committee Emmer controlled as the head of the House Republican campaign arm in the 2022 election cycle. - Minnesota Reformer