According to Odaily, the U.S. House Subcommittee on Digital Assets, Financial Technology, and Inclusion has announced a hearing titled ‘Bewildered and Confused: Breaking Down the SEC’s Politicization of Digital Assets.’ The hearing is scheduled for September 18 and will feature testimonies from former SEC Commissioner Dan Gallagher and Michael Liftik, who served in various roles at the SEC for nearly a decade, including attorney, senior advisor, and acting head of enforcement.
The subcommittee’s leadership has criticized SEC Chairman Gary Gensler for prioritizing and advancing an enforcement and regulatory agenda that they claim is detrimental to the digital asset ecosystem. They argue that Gensler’s stance on digital assets as securities under the Howey Test has been inconsistent and that there are disagreements among SEC members regarding this issue.