Robinhood's Chief Legal Officer, Daniel Gallagher, criticized the SEC's approach to crypto regulation in written testimony submitted for a congressional hearing. He expressed frustration with the lack of clear guidance from the SEC and labeled their strategy as a "scorched earth" approach that harms US crypto investors. Gallagher contrasted the US with Europe, where unified regulations enable innovation to flourish in the crypto industry. He suggested that the SEC could use its existing authority to create a framework for registering and overseeing platforms that facilitate trading in digital assets. Gallagher emphasized the need for Congress to establish a clear regulatory framework to maintain the US's leadership in well-regulated digital asset markets.



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