On the eve of an audience of the United States Representatives Chamber to analyze a bill to establish rules for cryptographic markets, Democrats said they have been hindered by seeking technical information on their effects of the stock exchange and values commission of the United States, according to employees.
Regulatory agencies, such as the SEC, routinely give technical analysis to legislators, answering questions about the possible effects of legislative efforts, such as the law of clarity of the digital asset market that would establish regulatory railings for digital assets. The Democratic personnel in the Chamber Financial Services Committee presented questions to the SEC about the bill and in information they were denied the basic responses that were previously granted to the Republicans, according to the Democratic assistants who asked not to be appointed. The agency also did not offer its experts in the matter for the discussion, they said.
On Tuesday, the Democratic Ranking of the Panel, Maxine Waters representative of California, prepared a letter to the president of the SEC, Paul Atkins, to demand a “technical analysis and integral impact” of the project of law of structure of the cryptographic market. It included several pages of questions in a draft reviewed by Coendesk, arguing that “the complete answers to the questions raised above are necessary for the American people, through their representatives in Congress, to determine whether this legislative proposal addresses the unique risks related to cryptography, and would promote the necessary environment for responsible innovation to take root.”
The SEC “provides technical assistance to any member of the Congress to seek it, even in these bills related to cryptography,” a spokesman told Coindesk when asked about the complaints.
One of the employees said that Landon Zinda of the Crypto Task Force of the SEC, who moved to the agency of the Crypto Defense Group of Coin Center in February, was destined to inform them but could not answer basic questions.
The Committee of the House of Representatives will hold the hearing of the Clarity Law on Wednesday after recently introduced the legislation of long data, a successor to the innovation and financial technology of the latest sessions for the Law of the 21st Century (FIT21). The Chamber Agriculture Committee, which also has jurisdiction on the regulation of digital assets, is executing its own hearing at the same time.
This bill represents the central policy objective of the cryptographic industry, which argues that it needs clear regulations in the United States to encourage investors who have waited outside and to prevent cryptographic innovators from moving abroad.
Democratic employees say that members have concerns about the signatures of traditional values found in this important legislation that will allow them to avoid the regulations of existing values.
But Congress Democrats have not acted as a block when it comes to this and a Stablcoin bill also related through the legislative process. While some leaders, including Waters, have opposed to advance in cryptographic legislation, other Democrats have joined Republicans to advance the chamber and the Senate.
Read more: planned cryptography audience in the house of the United States derailed by the Democratic revolt
Update (June 3, 2025, 20:01 UTC): Updates with a response from the SEC and more information from the sources.
