Democratic congresswoman Maxine Waters criticizes SEC chairman's crypto policy and calls for a hearing

According to Odaily, prediction market Kalshi shows that the probability of the Democratic Party winning the majority of seats in the U.S. House of Representatives in 2026 is about 75%. Against this backdrop, senior Democratic member of the U.S. House Financial Services Committee Maxine Waters has issued sharper criticism of U.S. Securities and Exchange Commission Chairman Paul Atkins' crypto asset regulatory policies.

In a letter to Committee Republican Chairman French Hill, Waters stated that the SEC has terminated or suspended several important enforcement cases against the crypto industry, involving a certain exchange and individuals such as Justin Sun. She pointed out that the committee has yet to fully review the reasons for the SEC dropping these cases, as well as how to prevent fraud and manipulation in markets with a large number of retail investors in the future.

Waters also noted that some companies involved in these cases announced the termination of cases to the public even before the SEC's official vote, and questioned the "unusually proactive" role played by Atkins' team in the settlement process. She believes that the SEC's recent policy shifts, mainly promoted through staff statements rather than formal rules, may circumvent the requirements of the Administrative Procedure Act, weakening the role of public comment solicitation and Congressional oversight. Therefore, she has requested Atkins to attend a hearing to provide an explanation.

The report pointed out that since the Donald Trump administration took office and completed leadership changes, the SEC has dropped several lawsuits against the crypto industry. Atkins has also repeatedly stated publicly that supporting the development of the U.S. crypto industry is a regulatory priority, a stance that has become a continued focus and source of questioning from the Democratic side.