As Democrats gain in odds to take U.S. House, Waters bashes SEC chair on crypto

Maxine Waters criticizes SEC Chair Paul Atkins for his crypto policies

Maxine Waters, a prominent Democratic figure, has raised serious concerns regarding the actions of the Securities and Exchange Commission (SEC) under Chairman Paul Atkins. With Democrats expected to have a strong chance of regaining control of the U.S. House of Representatives in the upcoming 2026 elections, Waters’ criticisms of Atkins could gain significant traction. She has expressed dissatisfaction with how the SEC has handled enforcement actions against major players in the cryptocurrency industry.

Democrats are favored to regain control of the House in upcoming elections

Recent predictions suggest that Democrats have a 75% chance of winning back the majority in the House. This political shift could provide Waters with more influence, particularly as she prepares to potentially lead the House Financial Services Committee again. Her critique of Atkins comes at a pivotal time when the crypto regulatory landscape is under intense scrutiny.

Waters demands testimony from Atkins regarding SEC enforcement actions

In a letter addressed to the committee's Republican chairman, Representative French Hill, Waters has called for Atkins to testify before Congress. She is particularly concerned about the SEC’s recent decisions to terminate or stay significant enforcement actions against several crypto companies, including well-known entities like Coinbase and Binance. Waters highlights that many of these companies had been accused of serious violations of securities laws, and she questions the SEC's rationale for dropping these cases.

Concerns arise over SEC's shifting policies impacting the crypto industry

Waters argues that the SEC's abandonment of enforcement actions raises critical questions about the agency's commitment to protecting retail investors. She points out that some companies announced the termination of their cases before the SEC made official decisions, implying a lack of transparency in the process. Furthermore, Waters criticizes the way the SEC has shifted its policy-making approach, often relying on staff statements rather than formal rules, which she believes undermines public trust and accountability. This situation illustrates the ongoing tension between regulatory bodies and the rapidly evolving crypto market.