Democratic Party members of the U.S. House Committee on Financial Services were handed a memo instructing them to back the party’s position on crypto regulation moments before the commencement of the hearings on May 10. According to the party’s leaked memo, Democrats on the committee were expected to point to the Republican Party’s lack of interest in protecting investors. The memo also said the U.S. Securities and Exchange Commission (SEC) should be allowed to “continue to lead the regulation of the U.S. crypto market.”
Republicans Accused of Undermining the SEC
According to a leaked memo shared by Eleanor Terrett, a journalist with Fox Business, Democratic Party members on the U.S. House Committee on Financial Services were given instructions to back the party’s position on crypto regulation when the committee met on May 10. In a Twitter post, Terrett claimed that the memo stating this had been circulated among Democrat committee members prior to the start of the hearings
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