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- US Rep wants Gary Gensler fired!
GM, this is The Crypto Explorer Let's face it, trying to keep up with crypto is like catching a greased-up pig.
Let’s do the chasing for you! 😀
Here’s what we got for you today:
😳 US Rep wants Gary Gensler fired!
🧱 Around the Block: Polygon vs EU lawmakers
😳 US Rep Wants Gary Gensler Fired!
US Representative Warren Davidson wants Gary Gensler fired!
The SEC's latest proposal to alter the definition of an “exchange" (a move made to target the DeFi sector) didn't sit well with Davidson.
Davidson views this as part of a larger pattern of the SEC's abuse of power.
So, he's planning to introduce legislation that'll clip Gary Gensler's wings and send him packing.
Yep. To correct a long series of abuses, I am introducing legislation that removes the Chairman of the Securities and Exchange Commission and replaces the role with an Executive Director that reports to the Board (where authority resides). Former Chairs of the SEC are ineligible.
— Warren Davidson 🇺🇸 (@WarrenDavidson)
12:08 PM • Apr 16, 2023
However, it's not just Davidson who's throwing shade at the SEC.
SEC commissioner Hester Peirce, who's usually pro-crypto, is calling out the proposed rule changes as a solution to problems that don't exist.
In addition to ironing this t-shirt (which republishes code from a comment letter), will I need to register as an exchange before wearing it? "It depends," per the SEC's latest release: sec.gov/news/statement…
— Hester Peirce (@HesterPeirce)
6:19 PM • Apr 14, 2023
And let's be real, the SEC has been using enforcement actions to develop the law on a case-by-case basis rather than creating clear regulations.
With Ripple, LBRY, Coinbase, and others caught in the crossfire, it's like the SEC is writing the rules as they go along.
In related news, a video of Gary Gensler praising Algorand resurfaces after recently deeming it a security. (This is probably going to help Warren Davidson prove his point and kick him out of office!)
🧱 Around The Block: Polygon vs EU Lawmakers
⤴️ Binance Upgrade: Binance users get new ETH deposit addresses: Here’s what to do.
🪙 ETH Staking: ETH staking passes withdrawals for the first time since Shapella upgrade.
🦪 Polygon vs EU lawmakers: Polygon calls on EU lawmakers to address smart contracts in Data Act
📟 Paxful unfreeze: Paxful CEO announces 88% of accounts unfrozen, $4.4M in funds remaining
That's all we have for today.
We'd love your feedback.
In any case, see you tomorrow, or on Twitter, if you're there: @danielakpobare
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.
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