The post A US congressman lashes out against Gary Gensler and the SEC. appeared on BitcoinEthereumNews.com.

The US Congressman Warren Davidson has stated that 2024 would be a great time to fire Gary Gensler and hold the SEC accountable for his corruption. Gary Gensler and the SEC: the administrative court scandal Davidson specifically refers to the so-called administrative court scandal. In 2022, the Supreme Court of the United States had opened the door to broader judicial oversight of internal courts within government agencies, but the SEC later dismissed dozens of those cases, including the one that led to the Supreme Court’s ruling. These are a total of 42 cases archived due to “lack of controls”.  In an official statement in June, the agency explained the incident as a communication problem and, above all, an error in sharing documents and information with external parties. Therefore, the problem has been acknowledged, although some have interpreted it only as the tip of an iceberg.  The dismissal of Gary Gensler from the SEC However, Davidson is not the only one calling for the dismissal of Gary Gensler from the presidency of the SEC. In particular, during the year, many operators and supporters of the crypto sector have requested his dismissal, due to the anti-crypto approach imposed by Gensler on the agency itself.  In particular, the SEC sued Ripple claiming that XRP was a security. The court ruled against the SEC, establishing that XRP cannot be considered a security when traded on the secondary market (crypto exchanges), even though Ripple has not yet responded to the accusations. The SEC then lost a second crypto lawsuit, filed by Grayscale against the agency’s decision not to approve the conversion of the Grayscale Bitcoin Trust into an ETF. This ruling has effectively forced the SEC to change its mind regarding the approval of Bitcoin spot ETFs, making Gensler’s mistake clear. After years of such…

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Filed under: News - @ December 28, 2023 6:18 pm