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During a press briefing on Tuesday, staffers recounted what they described as the “worst technical assistance briefing” they had ever witnessed. The meeting, held last week, was intended to help lawmakers prepare for an upcoming House Financial Services Committee hearing set for Wednesday.
SEC’s Role Questioned in Legislative Process
Staffers said the SEC’s conduct was a significant departure from standard legislative coordination. Traditionally, subject matter experts from the agency participate in these briefings to clarify legal or technical implications of proposed legislation. Instead, representatives from the SEC’s newly formed Crypto Task Force, the Office of General Counsel, and the legislative affairs team were present.
Not only were these individuals reportedly unable to answer basic questions, but they also frequently cited privilege when asked about materials that had allegedly already been shared with Republican counterparts.
“This felt like they were trying to hide the ball,” one Democratic staffer said. “Some of them clearly didn’t understand the questions, and others refused to answer by claiming privilege.”
Concerns Over Partisan Discrepancies
Staffers expressed further frustration that Republicans were given written technical assistance on the bill while Democrats were not. They noted that this asymmetry broke with tradition, where all parties typically receive equal support during bipartisan legislative development.
When asked if the SEC’s behavior amounted to obstruction or simple mismanagement, one staffer said it was unclear. “It’s hard to tell,” they said. “But the overall impression was either a lack of understanding or a lack of transparency.”
As the House prepares to debate the CLARITY Act, questions now loom over the SEC’s role in shaping—or stalling—U.S. crypto regulation.
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