Name: Could the SEC Chair Gary Gensler Be Fired?
Uploaded: 2023-06-13T20:00:04+00:00
Duration: 51 s
Description: Crypto Skeptic SEC chair Gary Gensler might finally be on the way out! US government representatives appear to be ganging up on old Gary and trying to have him replaced. They’ve accused Gary of being

1 year ago

Crypto Skeptic SEC chair Gary Gensler might finally be on the way out!

US government representatives appear to be ganging up on old Gary and trying to have him replaced. They’ve accused Gary of being incompetent, abusing his power as chairman, and driving the crypto industry overseas.

Their proposed legislation aims to ‘’fix the ongoing abuse of power and ensure protection that is in the best interest of the market’’.

In their press release, Representatives Davidson and Emmer fired shots at the ‘’hotel california rule’’ for crypto, which provides ‘’NO resolution and NO clarity’’. They even criticized Gensler’s political gamesmanship, calling him a tyrannical chairman.

But there’s more, because SEC commissioner Hester Pierce aka ‘’crypto mom’’ has also objected to Gensler’s rulings in the past. So it appears Gensler is feeling the heat from both the government and within his own agency.

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