US congressman urges Gensler’s SEC exit amid Grayscale ruling
US Congressman Warren Davidson renews calls for SEC Chair Gary Gensler’s removal following a court ruling in favor of Grayscale. Davidson, representing Ohio, stated that the court’s decision further substantiates the claim that Gensler’s actions at the SEC are arbitrary and lack consistency. More evidence that Gary Gensler’s actions at the SEC are arbitrary and capricious. #FireGaryGensler https://t.co/1qYVnki8ja pic.twitter.com/IG2t6i9V40 — Warren Davidson (@WarrenDavidson) August 29, 2023 This marks the second legal defeat for Gensler and his team within two months. In July, a US district court ruled in favor of Ripple, another cryptocurrency firm, in a lawsuit initiated by the SEC. Additionally, Senator Davidson originally called for removing Gary Gensler in his ‘Stabilization Act’ in June. The bill aimed to overhaul the SEC’s structure, advocating for a more democratic system rather than having a single “tyrannical chairman....