Two U.S. lawmakers have joined forces to remove Securities and Exchange Commission (SEC) Chairman Gary Gensler. “2024 is a good time to fire Gary Gensler, pass the SEC Stabilization Act, and hold the SEC accountable for corruption,” said Representative Warren Davidson. “It will happen,” he announced.
‘2024 would be a good time to fire Gary Gensler’
Representatives Warren Davidson (R-OH) and Tom Emmer (R-MN) are seeking to remove Gary Gensler as Chairman of the Securities and Exchange Commission (SEC). Rep. Davidson wrote on social media platform X on Thursday:
2024 would be a good time to fire Gary Gensler, pass the SEC Stabilization Act, hold the SEC accountable for corruption, and end the accredited investor rules that protect deal flow for the donor class.
Davidson introduced the SEC Stabilization Act in early June, firing Gensler as chairman of the securities regulator. He previously explained that this bill is “to eliminate the position of chairman,” and “to maintain the current members, but add six members so that there are no more than three members from any political party.”
Representative Emmer has also repeatedly criticized Gensler for his enforcement-centric approach to regulating the cryptocurrency industry. He wrote on X Thursday: “Gensler’s SEC is on the side of Wall Street, not Main Street. He is proud to join Warren Davidson as a co-lead on his bill, the SEC Stabilization Act, to help fire Gary Gensler.”
Davidson also opposes the Federal Reserve launching a digital dollar. In an X post on Tuesday, the lawmaker called for a ban on central bank digital currencies. He said:
Central bank digital currencies (CBDCs) pose an existential threat to Western civilization. A sound currency serves as a stable store of value and an efficient medium of exchange. CBDC completes the corruption of money into a dystopian tool for coercion and control. Ban it.
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Source: Bitcoin.com