US Congressman Leads The Call for SEC Chief Gensler's Removal
Congressman Davidson speaks out against the SEC's leader, Gensler, for his tough stance on digital money businesses, leads a call for Gensler to be fired.
On August 30, Congressman Warren Davidson criticized the head of the SEC for his actions against digital money businesses.
Congressman Davidson said that Gary Gensler's decisions at the SEC are not fair. He used a hashtag saying Gensler should be fired. He was quoting a court decision about a company called Grayscale. The court said the SEC did not explain why they treated Grayscale differently from other similar companies.
This is the second time in two months that Gensler's decisions were challenged in court. In July, another court supported a company called Ripple against the SEC.
Senator Davidson has earlier said Gensler should be removed. He wanted the SEC to be more fair and not just follow one leader’s ideas. He said the SEC should care about investors and not just do what their leader wants.
The hashtag about firing Gensler became very popular on a platform called X.
Scott Melker, a known figure, said the law often disagrees with the SEC's actions. Another person, Ryan Selkis, also criticized Gensler while talking about new rules in Hong Kong.
The SEC has been taking many legal actions against digital money businesses this year. They went after two big companies, Coinbase and Binance. They also have issues with special digital items called non-fungible tokens (NFTs), saying they are like stocks.
Some people think the U.S.'s strong actions against digital money might end. But as long as Gensler leads the SEC, they might keep being strict. He might say no or delay new applications related to digital money.
