U.S. Congressman and Majority Whip Tom Emmer announced Thursday he is co-leading an SEC Stabilization Bill to fire Chairman Gary Gensler. He joins Ohio congressman Warren Davidson in co-signing the new bill to fire the SEC Chair.
“Gensler’s SEC sides with Wall Street, not Main Street,” Congressman Emmer said in a post on X Thursday. Emmer is one of many lawmakers who are vocal about Gensler and the SEC’s opposition toward the future of finance, particularly with the involvement of crypto. Emmer previously called the SEC Chair “ineffective as he is incompetent.” Last month, the Minnesota congressman’s SEC regulation bill passed the House, pushing for the chairman’s removal and more regulations on the SEC’s enforcement against the digital asset industry.
This week, Congressman Davidson also said that 2024 would be a great time to fire Gary Gensler, calling the SEC corrupt. Lawmakers who share the sentiment cite that the SEC has not been impartial in its decisions around crypto, such as delaying Spot Bitcoin ETF applications and crypto regulations.
Also Read: US Congressman Slams Gary Gensler for Attacking Crypto
Gary Gensler has not responded to the latest co-signee of the SEC Stabilization Act. There is no distinct path to the approval of Congressman Emmer and Davidson’s bill to fire the SEC’s Gary Gensler yet.
Credit: Source link