House Financial Services Committee Chairman French Hill, in a letter addressed to Paul Atkins, stated that lawmakers are reviewing findings from the SEC Inspector General and are demanding clarification on several issues related to the actions of the U.S. Securities and Exchange Commission (SEC) during Gary Gensler’s leadership from 2021 to 2025.
The reason was an investigation conducted in September by the SEC Inspector General’s office, which raised doubts about the transparency of the agency’s operations during that period.
According to Hill, the committee is working with the inspector’s office to obtain more details and determine measures for further oversight.
The letter was also signed by Ann Wagner, Dan Meuser, and Bryan Steil. It recalled that in 2023 Gensler actively pursued financial companies for violations of reporting rules, collecting more than $400 million in fines.
Earlier, we reported that Coinbase accused the SEC of deliberately destroying Gensler’s communications. The company claimed that these materials could have confirmed bias and inconsistency in the agency’s actions with principles of transparency. At the time, the exchange’s lawyers noted that the disappearance of the chairman’s correspondence coincided with his active lawsuits against crypto companies.
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