Congressional chairman questions climate and cryptocurrency decisions.
Gary Gensler, the Chair of the Securities and Exchange Commission (SEC), testified before the House Financial Services Committee this week, his first appearance before the House since the change in party majority.
The committee’s chairman, Representative Patrick McHenry of North Carolina, led a thorough questioning of recent decisions made by the commission. Congressman McHenry voiced concerns about the 46 proposals pending for the regulation of capital markets and the vigorous enforcement against domestic cryptocurrency firms.
“Your approach is driving innovation overseas and endangering American competitiveness,”
said Representative McHenry. “This raises serious concerns that the rulemaking process is being rushed, undermining the quality of our securities laws and risking negative unintended consequences.”
As the Lord Leads, Pray with Us…
- For Chairman McHenry to be led by the Lord as he heads the congressional committee.
- For Chairman Gensler to seek God’s wisdom as he leads the SEC.
- For members of Congress to be discerning in their investigations into the actions of federal agencies.
Sources: Reuters, Politico
