U.S. Senator Warren Davidson has expressed the view that 2024 would be an appropriate time to fire Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC). Davidson, who has repeatedly criticized Gensler and his policies at the SEC, proposed the adoption of the "SEC Stabilization Act," aimed at redistributing power within the agency and changing decision-making algorithms.
Davidson asserts that this bill will help correct abuses of power within the SEC and provide protection that aligns with market interests. He also emphasizes the need for reforms and the dismissal of Gensler from his position as SEC chairman. The senator insists that Congress should pass his bill in 2024 and investigate the SEC for involvement in corruption schemes.
In December 2023, Gensler was also criticized by U.S. presidential candidate Vivek Ramaswamy, who stated that he was ashamed of the actions of the SEC head and U.S. authorities regarding the crypto industry.
