- The U.S. SEC has reportedly dismantled teams responsible for tackling crypto scams and frauds.
- Congressman Stephen Lynch criticized the agency’s loss of technical expertise after dismantling its dedicated FinHub office.
- A House subcommittee hearing showcased contrasting views on how digital asset regulation should be handled.
A U.S. House panel showcased opposing regulatory viewpoints on Thursday during a hearing examining digital asset oversight at the SEC. However, Massachusetts Representative Stephen Lynch, said he expressed significant concern with recent developments. He “wholly embraced” the potential good of innovative technology but warned of a changed enforcement landscape under the Trump administration.
Consequently, Lynch stated that the SEC has dismantled several teams managing fraud incidents. Meanwhile, the White House has also dismantled FinHub, the agency’s dedicated office for building technical expertise on digital assets and fintech. This leaves a gap in the agency’s capacity to keep pace with evolving crypto markets.
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