The U.S. lawmakers said the SEC was yet to provide adequate responses for its inquiries into its activities.

The Securities and Exchange Commission (SEC) chair, Gary Gensler, was given an ultimatum on May 19 by the U.S. House Committee on Financial Services to respond to its inquiries.

The lawmakers requested that the SEC provide the requested internal non-public documents of its activities in a letter dated May 9; these documents included the SEC’s charges against the bankrupt founder of FTX, Sam Bankman-Fried, crypto regulations, and disclosures regarding the company’s climate.

The Committee reportedly sent a letter to the SEC requesting a list of all digital asset entities that attempted to register with the Commission, as well as communications and documents regarding the registration process.

Gensler and the SEC staff were criticized by the Committee for not responding adequately to these questions. It was mentioned that a lot of documents from the SEC contained information that was mostly available to the public.

“It is inconceivable to us that a nearly 5,000-person agency with nearly 150 attorneys in its General Counsel’s office and more than 200 employees in the IT department is struggling to process three requests from Congress in a timely and responsive manner,” the letter read.

The Committee instructed the financial regulator to provide the requested documents by May 19 or face being questioned by its General Counsel and Director of the Legislative Affairs Office.

Congressman Bill Huizenga stated that lawmakers were sick of the SEC’s “stonewalling” when discussing the Commission’s inadequate responses. Huizenga elaborated:

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“During a Financial Committee hearing, Gary Gensler said he respects the role of congressional oversight. If Chair Gensler won’t live up to his own standard and answer our questions, we’ll make sure someone from his staff does for him.”

The letter denotes the most recent exertion of the Panel to get a handle on the SEC’s activity under Seat Gensler. The lawmakers’ previous letters and hearings, according to a number of crypto community members, have not produced much regulatory clarity for the crypto industry.

In the mean time, a few individuals have proposed that the officials summon and propel the Commission to answer its solicitations.