U.S. Congressman Advocates for Firing SEC Chair Gary Gensler in 2024

U.S. Congressman Warren Davidson, supported by House Majority Whip Tom Emmer, has advocated for the firing of SEC Chair Gary Gensler in 2024. Davidson attributes his stance to alleged corruption and abuses of power. This comes amid tensions between the SEC and the digital asset sector in 2023. Davidson, concerned about Gensler’s enforcement-first regulatory approach, introduced the SEC Stabilization Act earlier this year, aiming to restructure the SEC and remove Gensler. The Act proposes adding a sixth commissioner and an Executive Director to oversee day-to-day operations. (Source: Cryptoslate)