Ohio Congressman introduced the SEC Stability Act, which aims to restructure the agency and remove Chairman Gary Gensler from his position.
Monday, US Representative Warren Davidson announced the filing of the SEC Stabilization Act to restructure the regulatory agency and oust Chairman Gary Gensler.
The measure, which aims to streamline U.S. capital markets, is introduced at a time when Gensler is facing heavy criticism for his approach to enforcing crypto laws.
In the meantime, the XRP community, which has fought the SEC in the Ripple lawsuit for a long time, awaits the June 13 publication of the Hinman documents. Judge Analisa Torres is expected to deliver the all-important Summary Judgment at any moment. The Ripple lawsuit is the most significant dispute with the SEC, as the outcome is imminent.
The SEC Stability Act to Fire Gary Gensler
Ohio Representative Warren Davidson introduced the SEC Stabilization Act to restructure the agency and remove Chairman Gensler. He stated that the ongoing abuse of power must be remedied, and the market must be safeguarded for the foreseeable future.
“U.S. capital markets must be protected from a tyrannical Chairman, including the current one. It’s time for real reform and to fire Gary Gensler as Chair of the SEC.”
House Majority Whip Tom Emmer supported Davidson, arguing that U.S. investors and the industry deserve unambiguous and consistent oversight, not political gamesmanship.
The SEC Stabilization Act begins with Gensler’s dismissal, followed by reforms to the rulemaking, enforcement, and investigations processes.
