Republicans from the American House of Representatives have launched an investigation into the disappearance of text messages from Gary Gensler, former president of the agency. These SMS, erased while heading the dry, could contain sensitive exchanges linked to prosecution against the crypto industry.
In short
- The House Republicans are investigating the abolition of SMS from Gary Gensler, ex-president of the SEC, questioning the agency's transparency.
- The OIG points to a technical and organizational failure, but the elected officials denounce a standard standard applied by the dry under peopleler.
- Missing messages concerned prosecution against crypto companies, strengthening criticism on a policy deemed hostile to the sector.
An investigation that puts dry pressure
The Republicans of the American House of Representatives have opened an investigation into the disappearance of text messages sent by Gary Gensler, ex-president of the Securities and Exchange Commission. These SMS, deleted while he was in office between 2021 and 2025, raise doubts about the transparency and integrity of the regulatory agency.
In A letter addressed to the president Current of the SEC, Paul Atkins, the Committee of Financial Services, led by French Hill, claimed to work in close collaboration with the office of the Inspector General (OIG). They want to understand the exact circumstances of this deletion. Thus, they could determine whether internal practices contrary to the requirements imposed on Crypto companies have taken place.
Republicans accuse people of having applied two weights, two measures. Under its leadership, the SEC inflicted more than $ 400 million in fines on Crypto financial companies in 2023. We accused these shortcoming companies linked to registers and the conservation of internal communications. However, these same obligations would not have been followed by the agency itself.
The loss of SMS from peopleler, some of which directly concerned the actions of the dry against crypto companies, fuels criticism from the industry. Many see it as proof of a hostile policy orchestrated under the Biden administration. Indeed, they seemed to want to limit the access of crypto companies to the banking system and slow down their growth with an avalanche of prosecution.
A technological failure or a governance problem?
According to the OIG, the abolition officially results from an automated policy poorly understood by the IT department of the SEC. The erasure of peopleler's phone would have been aggravated by a lack of backups, ignored alerts and unlikely software defects.
However, timing questions. Indeed, several erased messages concerned sensitive files, including surveys against founders of Crypto projects.
Beyond tensions with the cryptocurrency industry, this case illustrates a broader issue. This is the very credibility of the dry. If the organization responsible for imposing financial transparency loses track of its own communications, the confidence of the public and the markets suffers. For the Republicans, the investigation is just beginning, and it could redraw the perception of Gary Gensler's mandate.
Furthermore, this is not the first time that the SEC has been found in the fire of criticism for its information management. In January 2024, a pirate had taken control of his X account. The latter had published a false announcement on the approval of an ETF Bitcoin Spot. The incident had already highlighted the safety flaws of an agency who is supposed to embody rigor and reliability.
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