It was just a matter of time before this happens. The guy is litterally making up his own laws.
Congressman advances legislation to fire Gary Gensler, downgrade position
Gensler's SEC leadership has attracted controversy from the crypto industry.
Mike Dalton
Apr. 17, 2023 at 8:23 pm UTC
2 min read
Updated: April 17, 2023 at 10:13 pm
COVER ART/ILLUSTRATION VIA CRYPTOSLATE
Share
Rep. Warren Davidson (R-Ohio) announced legislation to remove Securities and Exchange Commission (SEC) chair Gary Gensler in a tweet on April 16.
Davidson announces anti-Gensler legislation
On Twitter, Davidson wrote:
“To correct a long series of abuses, I am introducing legislation that removes the Chairman of the [SEC] and replaces the role with an Executive Director that reports to the Board (where authority resides).”
Davidson also said that former SEC chairs are “ineligible” for the downgraded position. If the legislation were to succeed, Gensler would no longer be able to serve in a leadership capacity at the Commission but presumably could serve in another role.
Davidson announced the legislation in response to Coinbase CLO Paul Grewal, whose original tweet concerned the SEC’s pursuit of a broadened definition of “exchange.” That broadened definition could impact DeFi platforms and other services not typically considered exchanges — a possibility that the SEC itself has observed.
Davidson appears to be acting in response to a Twitter campaign urging for Gensler’s removal. In late March, he wrote: “Let’s make the #FireGary movement bipartisan!”
Gensler, SEC face longstanding criticism
Davidson has criticized Gensler and the SEC in the past. In November 2022, he accused Gensler and the SEC of selective enforcement following the collapse of FTX.
In October 2022, he criticized the SEC’s decision to fine Kim Kardashian over her cryptocurrency promotions. At that time, Davidson wrote that the SEC’s “incoherent” and “inconsistent” enforcement policies would force crypto innovation overseas.
In February 2023, he accused the SEC of regulating by enforcement when it sued Kraken over its staking services. The SEC also forced Kraken to discontinue staking in the U.S.
The SEC’s board of commissioners currently has five members. Two commissioners — Hester Peirce and Mark Uyeda — have regularly dissented from the regulator’s strict decisions around crypto policy, including some of the above issues.
Mike Dalton
Journalist at CryptoSlate
Mike trained in library and information sciences before moving into crypto writing in 2018. He lives on the West Coast of Canada.
POSTED IN: U.S., FEATURED, PEOPLE, REGULATION
LATEST REPORT
Before and after Shanghai: A deep dive into the consequences of Ethereum’s latest upgrade
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Recent Gensler Stories
Ripple CEO says SEC Chair Gensler behaves like an ‘autocrat’
Oluwapelumi Adejumo 3 weeks ago 1 min read
SEC’s Gary Gensler seeks for more staff, resources to regulate crypto
Mike Dalton 3 weeks ago 2 min read
Ethereum co-founder praises Gary Gensler as ‘shining knight of decentralization’
Samuel Wan 1 month ago 2 min read
Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
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Research: Bitcoin miners hold strong during Q1, signaling bullish outlook for BTC
Bitcoin miners demonstrated resilience amid wider uncertainties, suggesting expectations for a sustained rise in BTC's value.
Samuel Wan and James Van Straten
Apr. 17, 2023 at 6:24 pm UTC
3 min read
Updated: April 17, 2023 at 6:24 pm
COVER ART/ILLUSTRATION VIA CRYPTOSLATE
Share
Despite a challenging year, Bitcoin started Q1 with a 70% gain, and mining difficulty reached an all-time high. But amidst this growth, what has been the miners' response? CryptoSlate analyzed Glassnode data, uncovering interesting trends in the behavior of the top eight publicly listed mining companies. As their holdings reveal a surprising resilience, one crucial question arises... Are these miners expecting the price of BTC to climb even higher? Dive into the Alpha article to uncover their expectations and strategies.
To read the rest of this article, connect your Solana wallet or learn more about CryptoSlate Alpha.
Unlock this story with CryptoSlate Alpha
This story is only available for CryptoSlate Alpha members. CryptoSlate Alpha is a membership designed to empower you with cutting-edge insights and knowledge, built on top of Access Protocol.
Hey, connecting to CryptoSlate Alpha requires authentication using Access Protocol. CryptoSlate is a launch partner of Access Protocol and we are also invested in the project through a grant we received. For more information, see our terms page.
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Disclaimer: By choosing to lock your ACS tokens with CryptoSlate, you accept and recognize that you will be bound by the terms and conditions of your third-party digital wallet provider, as well as any applicable terms and conditions of the Access Foundation. CryptoSlate shall have no responsibility or liability with regard to the provision, access, use, locking, security, integrity, value, or legal status of your ACS Tokens or your digital wallet, including any losses associated with your ACS tokens. It is solely your responsibility to assume the risks associated with locking your ACS tokens with CryptoSlate. For more information, visit our terms page.
Still confused and need more information? Learn more about CryptoSlate Alpha →
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DISCLAIMER: BY USING THIS WEBSITE, YOU AGREE TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY. CRYPTOSLATE HAS NO AFFILIATION OR RELATIONSHIP WITH ANY COIN, BUSINESS, PROJECT OR EVENT UNLESS EXPLICITLY STATED OTHERWISE. CRYPTOSLATE IS ONLY AN INFORMATIONAL WEBSITE THAT PROVIDES NEWS ABOUT COINS, BLOCKCHAIN COMPANIES, BLOCKCHAIN PRODUCTS AND BLOCKCHAIN EVENTS. NONE OF THE INFORMATION YOU READ ON CRYPTOSLATE SHOULD BE TAKEN AS INVESTMENT ADVICE. BUYING AND TRADING CRYPTOCURRENCIES SHOULD BE CONSIDERED A HIGH-RISK ACTIVITY. PLEASE DO YOUR OWN DILIGENCE BEFORE MAKING ANY INVESTMENT DECISIONS. CRYPTOSLATE IS NOT ACCOUNTABLE, DIRECTLY OR INDIRECTLY, FOR ANY DAMAGE OR LOSS INCURRED, ALLEGED OR OTHERWISE, IN CONNECTION TO THE USE OR RELIANCE OF ANY CONTENT YOU READ ON THE SITE.
© 2023 CRYPTOSLATE. ALL RIGHTS RESERVED. DISCLAIMERS | TERMS | PRIVACY
Congressman advances legislation to fire Gary Gensler, downgrade position
Gensler's SEC leadership has attracted controversy from the crypto industry.
Mike Dalton
Apr. 17, 2023 at 8:23 pm UTC
2 min read
Updated: April 17, 2023 at 10:13 pm
COVER ART/ILLUSTRATION VIA CRYPTOSLATE
Share
Rep. Warren Davidson (R-Ohio) announced legislation to remove Securities and Exchange Commission (SEC) chair Gary Gensler in a tweet on April 16.
Davidson announces anti-Gensler legislation
On Twitter, Davidson wrote:
“To correct a long series of abuses, I am introducing legislation that removes the Chairman of the [SEC] and replaces the role with an Executive Director that reports to the Board (where authority resides).”
Davidson also said that former SEC chairs are “ineligible” for the downgraded position. If the legislation were to succeed, Gensler would no longer be able to serve in a leadership capacity at the Commission but presumably could serve in another role.
Davidson announced the legislation in response to Coinbase CLO Paul Grewal, whose original tweet concerned the SEC’s pursuit of a broadened definition of “exchange.” That broadened definition could impact DeFi platforms and other services not typically considered exchanges — a possibility that the SEC itself has observed.
Davidson appears to be acting in response to a Twitter campaign urging for Gensler’s removal. In late March, he wrote: “Let’s make the #FireGary movement bipartisan!”
Gensler, SEC face longstanding criticism
Davidson has criticized Gensler and the SEC in the past. In November 2022, he accused Gensler and the SEC of selective enforcement following the collapse of FTX.
In October 2022, he criticized the SEC’s decision to fine Kim Kardashian over her cryptocurrency promotions. At that time, Davidson wrote that the SEC’s “incoherent” and “inconsistent” enforcement policies would force crypto innovation overseas.
In February 2023, he accused the SEC of regulating by enforcement when it sued Kraken over its staking services. The SEC also forced Kraken to discontinue staking in the U.S.
The SEC’s board of commissioners currently has five members. Two commissioners — Hester Peirce and Mark Uyeda — have regularly dissented from the regulator’s strict decisions around crypto policy, including some of the above issues.
Mike Dalton
Journalist at CryptoSlate
Mike trained in library and information sciences before moving into crypto writing in 2018. He lives on the West Coast of Canada.
POSTED IN: U.S., FEATURED, PEOPLE, REGULATION
LATEST REPORT
Before and after Shanghai: A deep dive into the consequences of Ethereum’s latest upgrade
CryptoSlate’s latest market report dives deep into on-chain metrics before and after the Shanghai upgrade to see whether it could be inconsequential or mark a turning point for the Ethereum network.
Andjela Radmilac · 3 days ago
Recent Gensler Stories
Ripple CEO says SEC Chair Gensler behaves like an ‘autocrat’
Oluwapelumi Adejumo 3 weeks ago 1 min read
SEC’s Gary Gensler seeks for more staff, resources to regulate crypto
Mike Dalton 3 weeks ago 2 min read
Ethereum co-founder praises Gary Gensler as ‘shining knight of decentralization’
Samuel Wan 1 month ago 2 min read
Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
Latest Alpha
Research: Bitcoin miners hold strong during Q1, signaling bullish outlook for BTC
Research6 hours ago3 min read
Here’s why GPT-4 outperforms GPT3.5, LLMs in code debugging
AI12 hours ago3 min read
Cycle analysis, has the next leg for the bull run started for Bitcoin
Insight 15 hours ago
Is the rise in Bitcoin and gold price foreshadowing further debasement?
Insight 1 day ago
Are institutions FOMOing back into Bitcoin?
Insight 3 days ago
Most Viewed
Coinbase CEO Brian Armstrong offloaded $1.8M worth of shares in April
12 hours ago2 min read
Staked Ethereum declines 3.8% as withdrawals cross 1M ETH
13 hours ago2 min read
CryptoSlate wMarket Update: Bitcoin dips below $30,000 as outflows exceed $18B
12 hours ago3 min read
Upcoming Events
Consensus 2023
Apr 26 - Apr 28, 2023Austin, TX United States
Avalanche Summit II
May 3 - May 5, 2023Barcelona, Spain
Press Releases
Crypto Bot “ATPBot” Dubbed the ChatGPT of Quantitative Trading Launches
Chainwire 3 days ago
BTSE Gains Virtual Asset Services Registration (subject to a condition precedent) in Liechtenstein to Expand European Presence
News Desk 4 days ago
Lost Worlds to Host Immersive NFT Experience for NFT.NYC Event
Chainwire 6 days ago
XT.COM Lists XACT in its Main Zone
News Desk 1 week ago
SCB 10X Hosts Bangkok Blockathon 2023, a Global Hackathon to Drive Innovation and Impact
News Desk 1 week ago
View All PRsAdvertise Here
ALPHA › NEWS › BITCOIN ›Research
Research: Bitcoin miners hold strong during Q1, signaling bullish outlook for BTC
Bitcoin miners demonstrated resilience amid wider uncertainties, suggesting expectations for a sustained rise in BTC's value.
Samuel Wan and James Van Straten
Apr. 17, 2023 at 6:24 pm UTC
3 min read
Updated: April 17, 2023 at 6:24 pm
COVER ART/ILLUSTRATION VIA CRYPTOSLATE
Share
Despite a challenging year, Bitcoin started Q1 with a 70% gain, and mining difficulty reached an all-time high. But amidst this growth, what has been the miners' response? CryptoSlate analyzed Glassnode data, uncovering interesting trends in the behavior of the top eight publicly listed mining companies. As their holdings reveal a surprising resilience, one crucial question arises... Are these miners expecting the price of BTC to climb even higher? Dive into the Alpha article to uncover their expectations and strategies.
To read the rest of this article, connect your Solana wallet or learn more about CryptoSlate Alpha.
Unlock this story with CryptoSlate Alpha
This story is only available for CryptoSlate Alpha members. CryptoSlate Alpha is a membership designed to empower you with cutting-edge insights and knowledge, built on top of Access Protocol.
Hey, connecting to CryptoSlate Alpha requires authentication using Access Protocol. CryptoSlate is a launch partner of Access Protocol and we are also invested in the project through a grant we received. For more information, see our terms page.
To access CryptoSlate Alpha, you will need
1. Solana Wallet
Connect a Solana self-custody wallet (Phantom, Solflare or Torus).
2. Stake ACS
Stake 20k ACS (native token of Access Protocol) to the CryptoSlate pool.
Included in your membership
Exclusive Research & Analysis
Expert Crypto & Macro Insights
Private Telegram Group Access
Day-1 Podcasts & Live Q&As
Monthly Roundtable Discussions
Surprise Perks & Bonuses
Already holding ACS? Connect & stake now →
Get Alpha
Disclaimer: By choosing to lock your ACS tokens with CryptoSlate, you accept and recognize that you will be bound by the terms and conditions of your third-party digital wallet provider, as well as any applicable terms and conditions of the Access Foundation. CryptoSlate shall have no responsibility or liability with regard to the provision, access, use, locking, security, integrity, value, or legal status of your ACS Tokens or your digital wallet, including any losses associated with your ACS tokens. It is solely your responsibility to assume the risks associated with locking your ACS tokens with CryptoSlate. For more information, visit our terms page.
Still confused and need more information? Learn more about CryptoSlate Alpha →
Latest Alpha
Research: Bitcoin miners hold strong during Q1, signaling bullish outlook for BTC
Research8 hours ago3 min read
Here’s why GPT-4 outperforms GPT3.5, LLMs in code debugging
AI13 hours ago3 min read
Net liquidity
Market Report 4 hours ago
Cycle analysis, has the next leg for the bull run started for Bitcoin
Insight 16 hours ago
Is the rise in Bitcoin and gold price foreshadowing further debasement?
Insight 2 days ago
In this article
BitcoinBTC (24h)
$29,302.05-2.05%
VOL: $16.54BMCAP: $566.97B
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
More about Bitcoin
Glassnode
Analytics, Research Company in Europe
Glassnode brings data intelligence to the blockchain and cryptocurrency space.
More about GlassnodeInfo Twitter LinkedIn
Most Viewed
Coinbase CEO Brian Armstrong offloaded $1.8M worth of shares in April
14 hours ago2 min read
Staked Ethereum declines 3.8% as withdrawals cross 1M ETH
15 hours ago2 min read
CryptoSlate wMarket Update: Bitcoin dips below $30,000 as outflows exceed $18B
14 hours ago3 min read
Upcoming Events
Consensus 2023
Apr 26 - Apr 28, 2023Austin, TX United States
Avalanche Summit II
May 3 - May 5, 2023Barcelona, Spain
Press Releases
Crypto Bot “ATPBot” Dubbed the ChatGPT of Quantitative Trading Launches
Chainwire 3 days ago
BTSE Gains Virtual Asset Services Registration (subject to a condition precedent) in Liechtenstein to Expand European Presence
News Desk 4 days ago
Lost Worlds to Host Immersive NFT Experience for NFT.NYC Event
Chainwire 7 days ago
XT.COM Lists XACT in its Main Zone
News Desk 1 week ago
SCB 10X Hosts Bangkok Blockathon 2023, a Global Hackathon to Drive Innovation and Impact
News Desk 1 week ago
View All PRsAdvertise Here
News
Topics
Coins
Directory
Connect
More
DISCLAIMER: BY USING THIS WEBSITE, YOU AGREE TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY. CRYPTOSLATE HAS NO AFFILIATION OR RELATIONSHIP WITH ANY COIN, BUSINESS, PROJECT OR EVENT UNLESS EXPLICITLY STATED OTHERWISE. CRYPTOSLATE IS ONLY AN INFORMATIONAL WEBSITE THAT PROVIDES NEWS ABOUT COINS, BLOCKCHAIN COMPANIES, BLOCKCHAIN PRODUCTS AND BLOCKCHAIN EVENTS. NONE OF THE INFORMATION YOU READ ON CRYPTOSLATE SHOULD BE TAKEN AS INVESTMENT ADVICE. BUYING AND TRADING CRYPTOCURRENCIES SHOULD BE CONSIDERED A HIGH-RISK ACTIVITY. PLEASE DO YOUR OWN DILIGENCE BEFORE MAKING ANY INVESTMENT DECISIONS. CRYPTOSLATE IS NOT ACCOUNTABLE, DIRECTLY OR INDIRECTLY, FOR ANY DAMAGE OR LOSS INCURRED, ALLEGED OR OTHERWISE, IN CONNECTION TO THE USE OR RELIANCE OF ANY CONTENT YOU READ ON THE SITE.
© 2023 CRYPTOSLATE. ALL RIGHTS RESERVED. DISCLAIMERS | TERMS | PRIVACY
