A DeFi Fund and an apparel company sued the SEC to prevent it from taking any action against the clothing company's recent "airdrop" of tokens. They argued that the SEC "has adopted an aggressive and expansive view of its own authority to regulate virtually all digital assets and transactions involving digital assets."
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House Financial Services Committee Chair, Patrick McHenry (R-NC) reintroduced a bill to "promote innovation in financial services" by establishing Financial Services Innovation Offices (FSIO) across various agencies.
Senate Banking Committee Ranking Member Tim Scott raised concerns about SEC-proposed rules that expand the dealer registration requirement as to transactions in U.S. Treasury securities.
CFTC Commissioner Christy Goldsmith Romero warned regulators of the danger of regulatory complacency and not to rollback critical Dodd-Frank post-crisis reforms. She highlighted the need for vigilant management of emerging risks in the cryptocurrency industry and as to the deployment of artificial intelligence in financial services.
SEC Commissioner Hester M. Peirce criticized the SEC for pursuing a federal case against a crypto asset company for registration failures which ultimately resulted in the "demise of the company."