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U.S. Senator Lummis filed an amicus curiae statement, saying the SEC under Gary Gensler was "not in line with the American spirit"

Internet reports that Republican Senator Cynthia Lummis, a supporter of cryptocurrencies, accused the U.S. Securities and Exchange Commission under former Chairman Gary Gensler of undermining lawmakers 'efforts to regulate cryptocurrencies. Lummis filed a 29-page amicus brief with the U.S. Court of Appeals for the Second Circuit in connection with the U.S. Securities and Exchange Commission's case against Coinbase, in which the SEC alleged the exchange was not legally registered. Lummis said: "During the Biden administration, the SEC's approach was to actively reinterpret the case law governing the Howe Rules and investment contracts, keep those interpretations confidential, and then require digital asset exchanges to comply. This approach is not in line with the spirit of the United States. It is Congress's responsibility to provide a legislative framework that clearly delineates the boundaries between securities and commodities."

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