The youngest US legislator criticizes SEC chairman and calls for limited enforcement cases in the crypto area

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The MP Ritchie Torres, a member of the Congressional Blockchain Caucus, has expressed critical remarks about the US stock exchange supervisory authority Sec and its chairman Gary Gensler. Torres criticized the administration of cryptor law in court and asked the SEC to limit its enforcement cases to "Bonafide Bad Actors".

In a letter to Gensler, Torres explained that the SEC should rethink their own administrative situations on honest negative effects instead of many crypto properties as surveillance devices. Torres' push took place in the case of the SEC against Ripple Labs. The regulatory authority had classified Ripple's purchase of its own $ XRP token as an advertisement for surveillance measures, which meant that several crypto bonds took the token from the list and its value dropped drastically.

Judge Analise Torres mentioned in her judgment that the $ XRP token does not offer absolute security. Ritchie Torres said that he had contacted the SEC and asked for clarification whether it would follow the conditions of the court.

Torres praised the judge's judgment in which she rejected the regulatory crossing of the SEC and found that not all crypto properties in addition to Bitcoin should be extensively monitored. The MEP hopes that the SEC will learn from the judgment and that its concentration will direct criminals on good -faithful criminals, commit serious violations.

torres also criticized the lack of clarity of the SEC in relation to guidelines for the crypto industry. He described the information from the authority as contradictory and not supportive. According to Torres, this uncertainty endangers the success of the crypto industry.

In view of the Ripple judgment, Torres calls on the SEC to rethink their negligent regulatory attack on the crypto area. He hopes that the authority will clarify its guidelines and offer clear support for the crypto industry.

It remains to be seen how the SEC will react to the demands and criticism of Ritchie Torres. However, it seems to be clear that the youngest US legislator in the area of ​​cryptor law advocates a revision of SEC policy.