U.S. House members: Legislation is being proposed to remove SEC Chairman Gary Gensler

ChainCatcher News, U.S. Congressman Warren Davidson responded on Twitter to Coinbase Chief Legal Officer Paul Grewal, stating, "To correct a series of abuses of power, I am introducing legislation to remove the Chairman of the SEC (referring to Gary Gensler) and replace him with an Executive Director who reports to the Board (where the power lies). The former SEC Chairman is unqualified."

Previously reported, on April 14, The Block reported that the U.S. Securities and Exchange Commission (SEC) is preparing to shift towards DeFi regulation when reopening proposed regulations. (Source link)