With recents upsets to crypto exchanges, Coinbase and Binance, by the Securities and Exchange Commission (SEC) it looks as of they are more invested in going after exchanges who they feel are not meeting or following their criteria for operation. With such a development, there are individuals who feel the SEC are slowly losing sight of what they stand for and this was further proven after the SEC served Coinbase a Wells notice that could not be clarified.
US congressman, Warren Davidson, has introduced a bill that would see the SEC being restructured and it's chairman, Gary Gensler being removed and citing concerns over his seemingly tyrannical rulership, stating his intentions to protect the crypto market from heavy regulatory actions. He further outlined seven failures of the SEC chairman, which led him to him believe Gary is incapable of remaining in that position.
1- he averages more than two rules proposals a month
2- he provides inappropriately short comment periods
3- he has unfavorable and unlawful ESG disclosure mandates on the market.
4. He operates a "check-in and never leave" rule for crypto
5- he has endless discoveries with no clarity and resolution
6- he has unworkable proposals for overhauling equity market structure
7- a high staff turnover rate and unhappy individuals leaving office.
Gary's failures as SEC chairman
These are valid factors to oust someone from his position but will it be passed into law? Others feel that with the risks associated with crytocurrencies, the strident measures taken by Gary Gensler is necessary. What are your thoughts?
https://en.cryptonomist.ch/2023/06/13/crypto-secs-gary-gensler-fired/
Topic: Gary Gensler should be sacked----Warren Davidson - page 2. (Read 187 times)
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