House Republicans Move to Block SEC Crypto Regulation
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Rep. Tom Emmer added a provision to block the SEC from using funds to pursue crypto companies until Congress decides who regulates crypto.
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The amendment passed unopposed but the House budget it's in still needs to pass through committees.
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Emmer said SEC Chair Gensler is abusing his power to fulfill a political agenda against crypto.
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Rep. Tim Burchett proposed cutting the salaries of SEC Chair, IRS Commissioner, and others to $1.
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With Republicans taking the House, crypto legislation like the FIT Act and Blockchain Regulatory Certainty Act may advance.