US Lawmakers Seek to Fire SEC Chair Gary Gensler in 2024

Two U.S. lawmakers have joined forces in an effort to fire Securities and Exchange Commission (SEC) Chairman Gary Gensler. “2024 would be a great time to fire Gary Gensler, pass the SEC Stabilization Act, [and] hold the SEC accountable for its corruption,” Congressman Warren Davidson announced.

‘2024 Would Be a Great Time to Fire Gary Gensler’

Representatives Warren Davidson (R-OH) and Tom Emmer (R-MN) are seeking to remove Gary Gensler as the chairman of the U.S. Securities and Exchange Commission (SEC). Congressman Davidson wrote on social media platform X Thursday:

2024 would be a great time to fire Gary Gensler, pass the SEC Stabilization Act, hold the SEC accountable for its corruption, and end the accredited investor rule that protects deal flow for the donor class.

Davidson introduced the SEC Stabilization Act earlier in June to fire Gensler as the chair of the securities regulator. He previously explained that the bill would “remove the role of chairman,” noting: “It would preserve the current commissioners but it would add a sixth commissioner so there would be no more than three from any one political party.”

Congressman Emmer has also repeatedly criticized Gensler for his enforcement-centric approach to regulating the crypto industry. He wrote on X Thursday: “Gensler’s SEC sides with Wall Street, not Main Street. I’m proud to join Warren Davidson as a co-lead on his bill, the SEC Stabilization Act, so we can fire Gary Gensler.”

Davidson is also against the Federal Reserve launching a digital dollar. In an X post on Tuesday, the lawmaker called for the ban of central bank digital currencies. He opined:

Central bank digital currency (CBDC) poses an existential threat to western civilization. Sound money serves as a stable store of value and an efficient means of exchange. CBDC consummates the corruption of money into a dystopian tool for coercion & control. Ban them.

Do you think SEC Chair Gary Gensler should be fired? Let us know in the comments section below.

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