US Congressional Committee Demands SEC Briefing on Misleading | Crypto Mountains

US Congressional Committee Demands SEC Briefing on Misleading Bitcoin ETF Information on X

A group of Republican lawmakers from the US House Financial Services Committee has urged Securities and Exchange Commission (SEC) Chairman Gary Gensler to address inquiries concerning the hack of the agency’s X account on January 9, 2024.

In a press release on January 10, the committee stated that it had dispatched a letter to the SEC demanding a comprehensive briefing to be provided by January 17, 2024.

The inquiry stemmed from a tweet posted on the SEC X account on January 9, falsely claiming the approval and listing of Bitcoin ETFs on all registered national securities exchanges.

The misleading post gained widespread traction on business news websites, Bloomberg TV, and various social media platforms until Chairman Gensler clarified that the agency’s account had been compromised.

The committee’s letter stressed the critical connection between the SEC’s ability to fulfill its mission, which includes investor protection, fair and efficient markets, capital formation, and effective communication with market participants.