“These [exemptions] could be creating loopholes based on technology,” another Democratic staffer said. “Traditionally, the agency tries to be tech-neutral, so their rules won't become obsolete once the tech evolves.”
Quote
Sources
House Democrats Claim SEC Is Denying Them Key Info on Crypto Bill
Referenced by
House Democrats expressed concern over the SEC’s lack of cooperation on CLARITY ACT amid the rapid Republican push for the bill, warning on the the bill’s sweeping impact on the agency’s regulatory role and possibility of potential loopholes allowing traditional securities firms to evade existing regulations by adopting blockchain-based structures
Crypto news
Claim
News event