US Congressman Warren Davidson Filed Legislation to Fire Gary Gensler

[Sayeds56]

The "news" about any legislator proposing a bill are generally not worth attention, especially if it's a loud and controversial piece of legislation. Because it takes only one person to propose and hundreds of members to actually pass it, and getting hundreds of people to agree on something is very hard.

It is true that process of passing legislation has many stages and requires substantial support of lawmakers to have it passed. However it remains crucial  that there are genuine voices raising their genuine concerns about what is going on about crypto currencies regulations in USA. Failure to address these issue may hinder development of innovation and new technologies and potentially leading to flight of capital from USA to alternative destination in Europe or Asia. These destination may welcome the crypto currencies exchanges that are being discouraged to operate in the United States.

[Husires]

I do not believe that cryptocurrencies have become so strong that US Congressman Warren Davidson is filing a request to expel a person based on regulatory decisions against cryptocurrency exchanges. I also do not believe that the Securities Exchange Act is an institution that depends on the decisions of one individual, and therefore changing that administration will not change anything.

This news is only propaganda and its main goal is to improve the reputation of these platforms in front of their users.

[kaseygriffin]

Gary Gensler has had many negative views on the crypto market, including the fact that ICOs must comply with investor protection regulations, exchange trading is not accepted, and strict supervision of funds. crypto investment and many other crypto-related matters. The actions of the SEC could impact the price of the crypto market. When the SEC or other financial regulators issue new regulations, they can affect the purchase, sale and use of cryptocurrencies, and in turn affect their prices. Investors will reassess the risks and returns of investing in cryptocurrencies, and this may drive down their prices.

It is not possible to make an accurate prediction as to how the crypto market will change as the prices of cryptocurrencies depend on a variety of factors, including the influence of services and products. new product, widely accepted and used by users. But seeing how they are SEC showing power regarding crypto, sometimes it makes me really laugh, when they can make a list of different cryptocurrencies and say they are securities, then there will be one day they declared bitcoin as a security.

[Ozero]

The current SEC Chair Gary Gensler really need get fired Imo, because he has many times exhibited some forms of inconsistency in his handling of his job, going here and there cracking down on crypto exchanges with its law suits without coming out with regulatory clarity and causing a lot of confusion in the industry. it's really high time that the congress Men should do something about it and to get him to be on his toes or sit up for the  job or they should put someone else who is capable of handling that position.

In any case, this is very good news. Because the U.S. Securities and Exchange Commission, under the leadership of Gary Gensler, has gone too far in litigating cryptocurrencies, considering many of them as securities, as well as crypto exchanges, which allegedly violate the procedure for treating them as securities. And this despite the fact that legislators and the government of the country have not yet decided on a clear classification of cryptocurrency. Apparently, Gary Gensler is trying to replace the lack of regulations in this area with judicial practice, but this can hardly be considered the right decision. .