Blockchain Association: SEC Chair Gensler Legally in the Wrong
The crypto advocacy group has published a paper saying Gary Gensler must recuse himself from enforcement decisions involving digital assets....
- The Blockchain Association has expressed concerns over SEC Chair Gary Gensler's role and statements on the crypto industry.
- They argue that Gensler has a perceived bias and has failed to provide clear guidance.
- The association claims that Gensler is overstepping his authority granted by Congress.
- They accuse Gensler of muddying the regulatory waters and forcing crypto companies to reconsider their operations.
- The lack of clarity surrounding securities classification in the crypto industry is detrimental to investors and entrepreneurs.
- The association suggests that Gensler's involvement in enforcement actions should be restricted due to his alleged bias.
- The paper highlights Gensler's history of addressing the securities question and argues that he refuses to conduct a fact-intensive inquiry.
- The Blockchain Association references the acknowledgment by the SEC prior to Gensler's appointment that not all digital assets are securities.
- They mention the court-ordered release of documents revealing that former SEC director William Hinman did not consider Ether as a security.
- The association's Chief Policy Officer, Jake Chervinsky, calls for Gensler to recuse himself from all decisions related to digital asset enforcement matters.
The article expresses concerns and criticism towards SEC Chair Gary Gensler and his actions in the crypto industry. The sentiment is negative.