⚡ SEC Criticized for Security Breach
posted 10 Jan 2024
U.S. Senators are calling on SEC Chairman Gary Gensler to provide a comprehensive report regarding the breach of the commission's official account on X. They argue that such incidents seriously question the commission's internal procedures.
“It is unacceptable that the agency entrusted with regulating the epicenter of the world’s capital markets would make such a colossal error,” states their public declaration.
As per SEC's own regulations, organizations and companies must disclose in-depth details about such security breaches within four days following the incident. This incident has not only drawn criticism from government officials but also from analysts and crypto business owners.
Bloomberg analyst James Seyffart expressed concern that Gary Gensler's internal investigations might inadvertently impact potential Bitcoin ETF issuers and investors.
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