Ethereum

Gary

April

<ul>
<li><strong>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.</strong></li>
<li><strong>The legislation calls for a restructuring of the SEC and the replacement of the chairman role with an Executive Director position.</strong></li>
</ul>
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<h2 id="us-congressman-introduces-bill-to-remove-sec-chair-gary-gensler">US Congressman Introduces Bill to Remove SEC Chair Gary Gensler</h2>
<p>US Congressman Warren Davidson has officially <a href="https://www.ethnews.com/sec-slams-bittrex-over-unregistered-securities-exchange-gary-gensler-to-get-fired-by-congress/">introduced</a> legislation to remove SEC Chair Gary Gensler, citing Gensler&#8217;s alleged abuse of power and failure to protect investors as the basis for the regulator&#8217;s restructuring. The move comes after Gensler&#8217;s highly publicized congressional hearing, which brought to light the SEC chair&#8217;s misguided crypto regulation.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
<p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;" />I’m calling to restructure the <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw">@SECGov</a> and the removal of Chair <a href="https://twitter.com/GaryGensler?ref_src=twsrc%5Etfw">@GaryGensler</a>. </p>
<p>Watch my closing remarks from today’s hearing where I lay out the abuse of power and failure to protect investors that has occurred. <a href="https://t.co/SNXio9Zbej">pic.twitter.com/SNXio9Zbej</a></p>
<p>&mdash; Warren Davidson <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;" /> (@WarrenDavidson) <a href="https://twitter.com/WarrenDavidson/status/1648379560122105882?ref_src=twsrc%5Etfw">April 18, 2023</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>The bill calls for a complete replacement of the role of chairman with an Executive Director position, who will <a href="https://www.ethnews.com/sec-slams-bittrex-over-unregistered-securities-exchange-gary-gensler-to-get-fired-by-congress/">report</a> directly to the board and bar former SEC chairs from being considered for the role. Davidson has been vocal about his intention to introduce the legislation, stating that it is necessary to &#8220;correct a long series of abuses&#8221; by Gensler as chairman.</p>
<h2 id="congressman-calls-for-sec-restructuring">Congressman Calls for SEC Restructuring</h2>
<p>In his closing remarks at Gensler&#8217;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.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
<p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;" />BREAKING!!!!! <a href="https://twitter.com/GOPMajorityWhip?ref_src=twsrc%5Etfw">@GOPMajorityWhip</a> TORCHING Gary Gensler and highlighting his and the SEC&#39;s complete and utter failure to protect ANY retail investors whatsoever</p>
<p>And lack of regulatory clarity + hostile enforcement against crypto in the US is pushing innovation offshores… <a href="https://t.co/cDlt2BbUW2">pic.twitter.com/cDlt2BbUW2</a></p>
<p>&mdash; Tyler Strejilevich (@TylerSCrypto) <a href="https://twitter.com/TylerSCrypto/status/1648360838544203777?ref_src=twsrc%5Etfw">April 18, 2023</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>Gensler has been the SEC Chair amidst some of the largest fraud cases the industry has seen. Additionally, he has been <a href="https://www.ethnews.com/sec-drops-new-crypto-bombshell-omg-dash-and-algo-named-among-unregistered-securities/">criticized</a> for championing unclear regulatory action and prioritizing enforcement over proper discourse and collaboration. Davidson&#8217;s move to introduce the legislation is aimed at holding Gensler and the SEC accountable for their actions and ensuring investor protection.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
<p lang="en" dir="ltr">Good morning <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> community! Why is Gary Gensler unable to provide a straightforward response regarding whether <a href="https://twitter.com/hashtag/Ether?src=hash&amp;ref_src=twsrc%5Etfw">#Ether</a> qualifies as a security or not? <a href="https://twitter.com/hashtag/ETH?src=hash&amp;ref_src=twsrc%5Etfw">#ETH</a></p>
<p>As the head of SEC, he is expected to give a definitive answer. Is he evasive during interviews (Shaking hands)? <a href="https://t.co/seFCQ53Kjz">pic.twitter.com/seFCQ53Kjz</a></p>
<p>&mdash; ETHNews (@ETHNews_com) <a href="https://twitter.com/ETHNews_com/status/1648558756190355461?ref_src=twsrc%5Etfw">April 19, 2023</a></p></blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>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&#8217;s move is aimed at holding Gensler and the SEC accountable for their actions and ensuring investor protection.</p>
<p>The post <a rel="nofollow" href="https://www.ethnews.com/gary-gensler-fails-before-congress-cant-answer-if-ethereum-is-a-security-who-can-provide-regulatory-clarity-if-not-the-sec-chair/">Gary Gensler Fails Before Congress, Can&#8217;t Answer if Ethereum is a Security &#8211; Who Can Provide Regulatory Clarity If Not the SEC Chair?</a> appeared first on <a rel="nofollow" href="https://www.ethnews.com">ETHNews: Bringing you the news of everything blockchain, Ethereum, and the internet.</a>.</p>

Gary Gensler Fails Before Congress, Can’t Answer if Ethereum is a Security – Who Can Provide Regulatory Clarity If Not the SEC Chair?

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