Republican lawmakers write to SEC Chairman, urging the agency to clarify how it handles crypto airdrops

Chairman of the U.S. House Financial Services Committee, Patrick McHenry, and Majority Whip of the House from Minnesota, Tom Emmer, sent a letter to Securities and Exchange Commission (SEC) Chairman Gary Gensler on Tuesday accusing the SEC of "interfering in internal affairs". They urged the agency to clarify how it treats cryptocurrency airdrops. Emmer and McHenry wrote: "By prohibiting Americans from participating in airdrops, the SEC is preventing cryptocurrency users from fully realizing the benefits of Blockchain technology." The two posed a series of questions to Gensler including how his agency plans to distinguish between airdrops and airline miles or credit card points. They expressed hope that Gensler would respond by September 30th.