On April 16th, crypto-friendly US Representative Warren Davidson revealed plans to launch legislation aiming to fire the SEC chairman.
Highlights
- US Representative Warren Davidson plans to introduce legislation aimed at firing US Securities and Exchange Commission Chairman Gary Gensler.
- Davidson revealed the news in an April 16th tweet, replying to a tweet shared by crypto exchange Coinbase legal chief Paul Grewal.
- Davidson: “To correct a long series of abuses, I am introducing legislation that removes the Chairman of the SEC and replaces the role with an Executive Director that reports to the Board” The move comes after SEC revealed plans to reconsider the proposed redefinition of an “exchange” The proposal was also proposed back in January 2022, but crypto advocacy groups argued that this represented an overreach of SEC’s authority, potentially endangering participation in the industry.
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