House Democrats in press briefing referring to the May 29, 2025 call with SEC about crypto market structure bill said the SEC "alluded that some information was privileged," reinforcing accusations that the agency was withholding information necessary for legislative process

Event date

June 3, 2025

Quotes that support claims

The staffers said people on the call representing the SEC were not able to answer simple questions and alluded to some information being privileged

When asked by a reporter whether the SEC had been deliberately obstructing the staffers or merely incompetent, one staffer said it was hard to know. "Some of it did feel like they just didn't understand some of the basic questions," they said. Further, the Democratic aide claimed the SEC shared supposedly "privileged" information with Republicans. "That made it feel like they were trying to hide the ball."

Democratic staffers further claim that on a call Thursday with SEC staff, their questions about knock-on effects the bill could have beyond crypto, on traditional securities markets, went either unanswered or not fully addressed—in a manner one staffer said “made it feel like they were trying to hide the ball.”

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Week 23 of 2025