U.S. House of Representatives members wrote to the SEC chairman asking him to clarify his handling of cryptocurrency airdrops

PANews reported on September 18 that according to The Block, Patrick McHenry, Chairman of the U.S. House Financial Services Committee, and Tom Emmer, the House Majority Whip, wrote to Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), asking for clarification on its handling of cryptocurrency airdrops. The two Republican lawmakers accused the SEC of "suppressing the market" on the issue of crypto airdrops and said that this practice hindered the opportunity for American citizens to participate in the development of blockchain technology. The letter raised questions such as how the SEC distinguishes airdrops from airline miles or credit card points. The lawmakers asked Gensler to respond by September 30.