The Blockchain Association, a crypto-lobby association, has said that (SEC) chief Gary Gensler should abandon rule-making in the crypto sector. His public comments clearly showed that the official lacks an even-handed approach to regulatory issues.
Blockchain Association presented their theses in open letter to the authorities.
Thus, the Blockchain Association supported Coinbase in their fight against the SEC. The largest US crypto exchange accuses the regulator of repression against the industry. They stated yesterday that the SEC has no jurisdiction over the tokens traded on the platform. So, any claims and proceedings are illegal.
Gensler and his actions against crypto exchanges are supported by many Democrats. At the same time, Republicans often criticize the official. On June 13, Republican Congressman Warren Davidson introduced a bill called the SEC Stabilization Act. The politician is seeking to restructure the agency and fire Gary Gensler as chairman.
Source: Cryptocurrency
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