Gary Gensler was criticized at a congressional hearing as the most "destructive" and "lawless" chairman in history

On September 25th, according to Cointelegraph, during a hearing of the House Financial Services Committee, US Securities and Exchange Commission Chairman Gary Gensler was criticized by lawmakers and members of his agency for his handling of US cryptocurrency regulation. US Congressman Tom Emmer criticized SEC Chairman Gary Gensler as the most "destructive" and "lawless" chairman in the 90 year history of the regulatory agency. Emmer told Gensler during a hearing of the House Financial Services Committee, "You created the term cryptocurrency security. This term cannot be found in regulations, it was fabricated by you, and you have never provided any explanatory guidance on how to define cryptocurrency security within the scope of the SEC. Your inconsistency on this issue has caused this country to regress. We cannot have a more historically destructive or lawless SEC Chairman." Emmer said that the term was Gensler's "enforcement" of the cryptocurrency industry over the past three years. The entire foundation of sports. Until last week, the US Securities and Exchange Commission lawyer withdrew the term in a court footnote. Gensler is also facing criticism from within his own team, with SEC Commissioner Hester Peirce stating that the SEC's withdrawal of the term 'cryptocurrency security' in court last week should have happened 'a long time ago'. The SEC should have acknowledged long ago that cryptocurrency is not a security.