<\/p>\n
US Congressman Warren Davidson has introduced the “SEC Stabilization Act” in the House of Representatives, announced on June 12. One of the main provisions of the bill is to fire Securities and Exchange Commission (SEC) Chairman Gary Gensler. <\/p>\n
Davidson said<\/a> in a statement:<\/p>\n “America’s capital markets must be protected from a tyrannical president, including the current one. That is why I am introducing legislation to fix the ongoing abuse of power and ensure protection that is in the best interest of the market for years to come. It’s time. for real reform and to fire Gary Gensler as SEC chairman.”<\/p>\n Davidson stated his intention to introduce the bill earlier this year. He made this announcement in answer<\/a> to a tweet from Coinbase’s head of legal, Paul Grewal. Representative Tom Emmer co-sponsored the bill. Emmer said<\/a>“The SEC Stabilization Act will make common sense changes to ensure that the SEC’s priorities are with the investors it needs to protect and not the whims of its reckless chairman.”<\/p>\n