Gary Gensler gets an earful from the House and Blockchain Association.
a paper arguing that Gensler should recuse himself from digital asset enforcement decisions. The paper claimed:
“In the digital asset space, the SEC has all but abandoned its role as a rulemaking body. Key issues of existential importance to the digital asset industry remain unresolved, chief among them the question of whether and when a digital asset represents a ‘security.’” Gensler “has clearly stated his view” that all digital assets other than Bitcoin are unregistered securities and all digital asset trading platforms are unregistered securities exchanges, the paper said, citing numerous statements made by the SEC chairman. Those statements show that Gensler has prejudged “everything other than bitcoin,” it continued, and:
“Due process requires not only that agency decisionmakers act without bias, but also that they avoid even the appearance of bias.” Wells notice recipients can seek Gensler’s recusal through the SEC or in federal court, the paper reminded.
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