Amendment proposed to limit SEC enforcement on digital asset transactions

In a recent floor statement, Representative Emmer proposed an amendment that aims to limit the Securities and Exchange Commission (SEC) from using funds for enforcement activities related to digital asset transactions. The amendment states that the SEC should only have jurisdiction over this asset class once Congress passes legislation granting them authority. Emmer expressed concerns about the effectiveness and competence of SEC Chair Gensler and believes that this measure will keep him in check. The purpose of the amendment is to provide the digital asset industry with an opportunity to grow and develop within the United States.