US Congressman Files Bill To Fire SEC Chair Gary Gensler
Crypto Market News: US Congressman Warren Davidson on Monday announced filing of the sensational SEC Stabilization Act to restructure the regulatory agency and also to fire Chair Gary Gensler. The bill, aimed at streamlining US capital markets, comes at a time when Gensler is facing heavy criticism for his style of enforcing laws on the crypto market. In a latest, CoinGape reported his warnings to crypto investors, in that he reiterates that the crypto market businesses are informed of the existing laws, although most of the industry participants dislike the status quo.
Also Read: Elon Musk Sides With Coinbase ‘Crypto Regulation’ Stance
Meanwhile, the XRP community, which has been long fighting the SEC in the Ripple lawsuit, awaits the June 13 public release of the Hinman documents. The Ripple lawsuit is currently the most important conflicts with the SEC as the outcome is expected to be right around the corner with Judge Analisa Torres likely to deliver the all important Summary Judgement any time now.
The SEC Stabilization Act To Fire Gary Gensler
Warren Davidson, a Congressman from Ohio, filed the SEC Stabilization Act aiming to restructure the agency as well as fire Chair Gensler. He explained that there was a need to fix the ongoing abuse of power and to ensure protection that is in the best interest of the market for years to come.
“U.S. capital markets must be protected from a tyrannical Chairman, including the current one. It’s time for real reform and to fire Gary Gensler as Chair of the SEC.”
Davidson was joined with support by House Majority Whip Tom Emmer, who argued that the US investors and the industry deserve clear and consistent oversight, not political gamesmanship. The SEC Stabilization Act includes firing Gensler as the first step, followed by revamping the rulemaking process, enforcement and investigations.
Also Read: Galaxy Digital Wins in $1.2B Acquisition Lawsuit Against BitGo
- XRP to $9? Analysts Tip ‘XRP Is a Buy’ as Price Targets 200% Surge
- CZ Endorses Hyperliquid Rival Aster DEX, Token Rallies 1,500%
- Tom Lee’s BitMine Adds $84M in ETH as Expert Predicts Ethereum Rally to $5K
- Grayscale’s Crypto Index Fund Sees ‘Solid Start’ as SOL, XRP Institutional Demand Climbs
- Senate Democrats Urge Republicans for ‘True Collaboration’ to Quickly Pass CLARITY Act
- Bitcoin Price Prediction: Analyst Highlights Breakout Patterns as Coinbase CEO Backs Crypto Structure Bill
- Dogecoin Price Prediction: Grayscale ETF Move Aligns With Cycle Breakout
- Chainlink Price Prediction: Whales Scoop 2M LINK as Analysts Eye 184% Breakout Rally
- Shiba Inu (SHIB) Price Prediction: Massive SHIB Burn and 80-Week Cycle Mirroring Past Rallies: Will History Repeat?
- Cardano Price Stays Above Ichimoku Cloud as Grayscale ADA ETF Approval Nears
- HBAR Price Prediction as SEC Approves Generic ETF Framework – Analyst Targets $1.80
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
