Democratic lawmakers skewered SEC Chair Paul Atkins at a hearing Wednesday, accusing the regulator of turning a blind eye to crypto scams with connections to President Donald Trump—and weakening the legitimacy of the digital assets industry as a result.

“People are losing trust,” Rep. Stephen Lynch (D-MA) told Atkins during a Wednesday hearing before the House Financial Services Committee. “This is not good for crypto, it’s certainly not good for consumers.”

“And it’s awful,” he continued, “the reputational damage the SEC is suffering right now.”

Lynch cited the SEC’s dismissal of numerous high-profile lawsuits against crypto firms, including one against Binance, which has played a major role in Source link