US congressman Warren Davidson has officially introduced a bill to remove SEC Chair, Gary Gensler, amidst allegations of abuse of power and failure to protect investors. The legislation calls for a restructuring of the SEC and the replacement of the chairman role with an Executiv...
- US congressman Warren Davidson has officially introduced a bill to remove SEC Chair, Gary Gensler, amidst allegations of abuse of power and failure to protect investors.
- The legislation calls for a restructuring of the SEC and the replacement of the chairman role with an Executive Director position.
US Congressman Introduces Bill to Remove SEC Chair Gary Gensler
Watch my closing remarks from today’s hearing where I lay out the abuse of power and failure to protect investors that has occurred. pic.twitter.com/SNXio9Zbej— Warren Davidson(@WarrenDavidson) April 18, 2023
Congressman Calls for SEC Restructuring
In his closing remarks at Gensler’s congressional hearing, Davidson called for a restructuring of the SEC amidst the allegations of abuse of power and failure to protect investors. The legislation seeks to place an executive director in charge of the SEC, operating in direct relation with the board.
BREAKING!!!!! @GOPMajorityWhip TORCHING Gary Gensler and highlighting his and the SEC's complete and utter failure to protect ANY retail investors whatsoeverAnd lack of regulatory clarity + hostile enforcement against crypto in the US is pushing innovation offshores… pic.twitter.com/cDlt2BbUW2— Tyler Strejilevich (@TylerSCrypto) April 18, 2023
Good morning #Ethereum community! Why is Gary Gensler unable to provide a straightforward response regarding whether #Ether qualifies as a security or not? #ETHAs the head of SEC, he is expected to give a definitive answer. Is he evasive during interviews (Shaking hands)? pic.twitter.com/seFCQ53Kjz— ETHNews (@ETHNews_com) April 19, 2023
In conclusion, US Congressman Warren Davidson has introduced legislation to remove SEC Chair Gary Gensler, citing his alleged abuse of power and failure to protect investors. The bill calls for a restructuring of the SEC and the replacement of the chairman role with an Executive Director position. Davidson’s move is aimed at holding Gensler and the SEC accountable for their actions and ensuring investor protection.