{"id":17555,"date":"2023-02-12T17:32:47","date_gmt":"2023-02-12T17:32:47","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/house-republicans-demand-answers-from-sec-over-ftx-co-founders-arrest-bitcoin-news\/"},"modified":"2023-02-12T17:32:47","modified_gmt":"2023-02-12T17:32:47","slug":"house-republicans-demand-answers-from-sec-over-ftx-co-founders-arrest-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/house-republicans-demand-answers-from-sec-over-ftx-co-founders-arrest-bitcoin-news\/","title":{"rendered":"House Republicans Demand Answers From SEC Over FTX Co-Founder’s Arrest \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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On Feb. 10, 2023, Republicans Patrick McHenry of North Carolina and Bill Huizenga of Michigan, both members of the U.S. House of Representatives, sent a letter to Securities and Exchange Commission (SEC) chairman Gary Gensler seeking answers about the arrest of FTX co-founder Sam Bankman-Fried prior to his scheduled testimony before the House Financial Services Committee. McHenry and Huizenga assert that the timing of Bankman-Fried\u2019s charges and arrest raises \u201cserious questions about the SEC\u2019s process and cooperation with the Department of Justice.\u201d<\/strong><\/p>\n

House Representatives McHenry and Huizenga Probe SEC Over Timing of Charges and Arrest of Sam Bankman-Fried<\/h2>\n

Following the Securities and Exchange Commission\u2019s (SEC) crackdown<\/a> on Kraken\u2019s staking services in the United States, House Financial Services chairman Patrick McHenry and Oversight Subcommittee chairman Bill Huizenga said they are investigating the SEC regarding the \u201ctiming of the SEC-DOJ action against Sam Bankman-Fried.\u201d The two representatives have sent a letter<\/a> to SEC chairman Gary Gensler<\/a> requesting \u201crecords and communications\u201d between the Office of the Chair, the SEC\u2019s enforcement agency, and the Department of Justice regarding the Bankman-Fried issue.<\/p>\n

\u201cPresumably, the SEC\u2019s Division of Enforcement did a complete investigation into the actions by Sam Bankman-Fried and presented the findings to the Commission for its review and to authorize the charges,\u201d the letter details. \u201cYet, the timing of the charges and his arrest raises serious questions about the SEC\u2019s process and cooperation with the Department of Justice. The American people deserve transparency from you and your agency,\u201d the letter adds.<\/p>\n

The letter demands all records and communications between the SEC Division of Enforcement employees relating to Bankman-Fried\u2019s charges. The second demand is for all records and communications between the SEC and the DOJ. The third demand is for all records and communications between the Office of the Chair employees and chairman Gensler in relation to Bankman-Fried\u2019s charges and subsequent arrest. The House Republicans want the materials as soon as possible and have given the SEC a deadline.<\/p>\n

\u201cPlease provide this material as soon as possible, but no later than 5:00 p.m. on February 23, 2023,\u201d the letter written by McHenry and Huizenga demands. \u201cThe Committee on Financial Services has jurisdiction to oversee the activities of the Securities and Exchange Commission pursuant to Rule X of the Rules of the House of Representatives.\u201d<\/p>\n

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\nTags in this story
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American people<\/a>, Arrest<\/a>, Bill Huizenga<\/a>, Chairman<\/a>, co-founder<\/a>, Committee on Financial Services<\/a>, communications<\/a>, Cooperation<\/a>, cracking down<\/a>, deadline<\/a>, department of justice<\/a>, division of enforcement<\/a>, DOJ Enforcement<\/a>, enforcement agency<\/a>, ftx<\/a>, Gary Gensler<\/a>, House Financial Services Committee<\/a>, House of Representatives<\/a>, investigating<\/a>, jurisdiction<\/a>, Letter<\/a>, Office of the Chair<\/a>, patrick mchenry<\/a>, process<\/a>, questions<\/a>, Records<\/a>, Republicans<\/a>, Rules of the House of Representatives<\/a>, Sam Bankman-Fried<\/a>, SEC<\/a>, SEC arrest<\/a>, SEC enforcement<\/a>, SEC-DOJ action<\/a>, staking services<\/a>, testimony<\/a>, timing<\/a>, Transparency<\/a>, United States<\/a><\/div>\n<\/div>\n

What do you think about the House Republicans\u2019 demand for answers from the SEC on the arrest of Sam Bankman-Fried? Share your thoughts about this subject in the comments section below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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