Restructuring SEC; Firing Gensler
US Congressman Warren Davidson has proposed a new law called the SEC Stabilization Act. This law aims to change how the regulatory agency works and remove the current Chair, Gary Gensler. The goal of the law is to make US financial markets simpler and easier to understand.
Many people are unhappy with how Gensler has been enforcing rules for the crypto market, and he has been getting a lot of criticism.
In a recent statement, Gensler reminded people in the crypto industry that they need to follow the existing laws, even though many of them don't like the way things are now.
Davidson, who is a Congressman from Ohio, wants to fix the abuse of power and protect the market for the future.
