Gensler Defends SEC’s “War on Crypto Bro’s” in Marathon House hearing
WASHINGTON — Securities and Exchange Commission Chairman Gary Gensler faced a barrage of criticism from House Republicans on Tuesday over his agency’s recent policy of “F-ing with crypto bro’s”
In more than four hours of testimony before the House Financial Services Committee, Gensler stood firm on his view that crypto bro’s had been asking for this crackdown with their horrible sense of fashion and obnoxious social media videos posted during the 2020-2021 bull run.
“All of these ‘crypto bro’s with their high water pants and obnoxious social media videos about their monkey jpegs are just facing the justice they deserve ” Gensler told the panel.
Republicans raised many of the points the crypto industry regularly makes about regulation, arguing that while high water style pants and tik tok videos about monkey jpegs are troubling they do not necessarily warrant the level of legal action being brought on by the SEC.
Gensler, however, bristled at the notion that the SEC was not within its writ to target ‘crypto bro’s’.