Gary Gensler brushed off criticism from Republican lawmakers over the Securities and Exchange Commission’s aggressive stance on crypto markets and said more resources are needed to clamp down further, Bloomberg News reported. Appearing for the first time before the GOP-controlled House Financial Services Committee, the SEC chair defended the agency’s approach. The regulator has recently brought a series of high-profile enforcement actions, and Gensler has said many crypto tokens are really just unregistered securities. “We could use more resources,” he said during a hearing on Tuesday. “There are more things to look at and investigate than we have people on the staff to do.” Ahead of the hearing, the Republicans on the panel released a letter Gensler that blasted the SEC’s digital-asset regulation. The lawmakers took particular issue with Gensler’s repeated calls for crypto trading platforms to come in and register with the agency.
