Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ADOPTION NEWS»In a letter to Gensler, Republicans urged the SEC to clarify how it handles cryptocurrency airdrops.
ADOPTION NEWS

In a letter to Gensler, Republicans urged the SEC to clarify how it handles cryptocurrency airdrops.

By Crypto FlexsSeptember 18, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
In a letter to Gensler, Republicans urged the SEC to clarify how it handles cryptocurrency airdrops.
Share
Facebook Twitter LinkedIn Pinterest Email

Key Republican lawmakers say they want clarity from the U.S. Securities and Exchange Commission on how it views airdrops in the cryptocurrency industry.

House Financial Services Committee Chairman Patrick McHenry, D-North Carolina, and House Majority Whip Tom Emmer, D-Minn., accused the SEC of “putting its thumb on the scale” in a letter to Commission Chairman Gary Gensler on Tuesday.

“By making claims about airdrops in a variety of instances and increasing warnings of further enforcement action, the SEC is creating a hostile regulatory environment that is amplifying the scale and preventing Americans from shaping the next generation of the internet,” they wrote.

Some cryptocurrency startups use airdrops to distribute free tokens to digital asset wallets.

The lawmakers cited examples of the SEC’s handling of airdrops. example This is about Tron founder Justin Sun. The agency said the airdrop could be considered a “sale or distribution of securities.” footnote In their 2019 “Framework for Analyzing ‘Investment Contracts’ in Digital Assets,” Emmer and McHenry said developers “should have blocked Americans from receiving cryptocurrencies in airdrops.”

“By prohibiting Americans from participating in airdrops, the SEC is preventing cryptocurrency users from fully realizing the benefits of blockchain technology,” Emmer and McHenry wrote.

The two sent Gensler a series of questions, including how the agency plans to distinguish between airline miles or credit card points and airdrops. They said they wanted to hear from Gensler by Sept. 30. The SEC did not immediately respond to a request for comment.

McHenry and Emmer have been critical of Gensler’s approach to cryptocurrency regulation for years. Gensler has argued that most cryptocurrencies are securities and has urged cryptocurrency platforms to register with the agency. Meanwhile, McHenry and Emmer Pass through The House passed the Cryptocurrency Market Structure Act, decentralizing jurisdiction over cryptocurrencies to the SEC and giving new jurisdiction to the Commodity Futures Trading Commission.

The letter comes as the House Financial Services Committee plans to hold several hearings next week to focus on the SEC and cryptocurrencies. Lawmakers are scheduled to hold a hearing on Wednesday. “Dazed and Confused: Analyzing the SEC’s Politicized Approach to Digital Assets” and another piece on the agency’s oversight next week, when all five commissioners Attend Hearing on September 24th.


Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information on the cryptocurrency industry. Below are the current financial disclosures.

© 2024 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Ether Lee (ETH) tests major support for $ 4,453 after the highest rejection.

August 31, 2025

Bitcoin analysts bet on $ 200K after hints of Fed.

August 23, 2025

‘Self -transactions, dressed in capital layout’: The cryptocurrency financial craze divides the industry.

August 15, 2025
Add A Comment

Comments are closed.

Recent Posts

RLUSD Stablecoin is extended to Africa to supply power to the border between the border.

September 5, 2025

Bybit Establishes New B2B Unit To Drive Institutional Adoption Of Digital Assets

September 5, 2025

Lowkick Studio Launches $SHARDS Token On Top Tier Exchanges For WorldShards MMORPG

September 5, 2025

The cryptocurrency is falling when the tokens and stocks connected to Trump are under pressure.

September 5, 2025

Cango Inc. Reports Second Quarter 2025 Unaudited Financial Results

September 5, 2025

Coindesk July 2025 Report: Stablecoins and CBDC

September 5, 2025

NOWPayments To Participate In SiGMA Europe Rome 2025

September 4, 2025

Web3 Enabler Announces Blockchain Payments V3.1 At Northeast Dreamin In Boston

September 4, 2025

Is XRP The Dark Horse Of The Cryptocurrency World? Earn 652 XRP Daily Using Invro Mining’s Smart Contract

September 4, 2025

TRX Was Early, ETH Set The Standard, BNB Built The Scale- Now SYC Brings The Next Evolution

September 4, 2025

Sign Up And Receive $500 Bonus, Ushering In A New Era Of Compliant And Secure Crypto Investment

September 4, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

RLUSD Stablecoin is extended to Africa to supply power to the border between the border.

September 5, 2025

Bybit Establishes New B2B Unit To Drive Institutional Adoption Of Digital Assets

September 5, 2025

Lowkick Studio Launches $SHARDS Token On Top Tier Exchanges For WorldShards MMORPG

September 5, 2025
Most Popular

Generative AI enhances robots’ reasoning and action capabilities with ReMEmbR.

September 24, 2024

Bitcoin digests US ‘nightmare’ CPI, $60,000 out of balance, jobs data

October 12, 2024

Bitcoin (BTC) has soared to two months height, and capital inflow and market optimism are spark

May 8, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.