U.S. House Democrats accuse SEC of refusing to provide key information on crypto bill

Democratic staffers in the U.S. House of Representatives on Tuesday accused the SEC (Securities and Exchange Commission) of refusing to provide it with key technical analysis of the CLARITY Act crypto bill in a political operation, while at the same time providing relevant information to the Republican Party. The bill would create a regulatory framework for the U.S. crypto industry and rewrite parts of securities law. Democrats are concerned that the bill could go beyond the crypto realm, have a significant impact on traditional securities markets, and could create technology-based regulatory loopholes. Maxine Waters, ranking member of the House Financial Services Committee, plans to send a letter to SEC Chairperson Paul Atkins asking for written analysis to be provided to both parties. The bill will be flagged in committee on June 10, while the SEC's uncooperative attitude may affect the support of some pro-crypto Democratic lawmakers for the bill.