Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Winklevoss Calls for Gensler’s Ouster from Crypto Industry

Winklevoss Calls for Gensler’s Ouster from Crypto Industry

CryptotaleCryptotale2024/11/16 02:41
By:Gabriele
Winklevoss Calls for Gensler’s Ouster from Crypto Industry image 0
  • Tyler Winklevoss accused SEC Chair Gary Gensler of intentionally damaging the crypto sector.
  • Winklevoss urged firms to avoid working with Gensler, citing harm to crypto jobs.
  • Gensler defended his SEC tenure, highlighting reforms despite criticism from industry.

Gemini co-founder Tyler Winklevoss has issued sharp criticism of SEC Chair Gary Gensler. Notably, he called for Gensler’s permanent exclusion from roles of power or influence. Winklevoss accused Gensler of deliberately undermining the cryptocurrency industry. His remarks come amid growing speculation about Gensler’s potential resignation, sparked by recent public comments.

Winklevoss Blames Gensler

Winklevoss took to social media to voice his concerns, alleging that Gensler’s regulatory actions were part of a calculated effort to damage the crypto sector. According to Winklevoss, these actions caused job losses, financial setbacks, and disrupted livelihoods. He claimed that Gensler’s approach was driven by political motives rather than public interest.

The Genesis co-founder also urged companies to distance themselves from Gensler after his SEC term. He suggested that any association with him would betray the crypto industry. This reflects widespread dissatisfaction with Gensler’s handling of digital assets during his tenure.

Gensler Defends Record at Regulatory Conference

Notably, in a recent address, Gensler reviewed his time at the SEC and highlighted key achievements. He pointed to new rules aimed at improving corporate transparency. These regulations require detailed disclosures on data breaches, executive pay, and significant ownership stakes.

Gensler also discussed structural changes in the financial markets. Updates to the clearing of Treasury securities and a shorter settlement cycle for stock trades were included. He acknowledged delays in implementing a climate disclosure rule but emphasized the broader impact of his initiatives.

Resignation Rumors Gain Momentum

In recent weeks, speculation has grown around Gensler’s resignation. President elect Donald Trump’s campaign pledge was to dismiss Gensler. Gensler’s recent comments have also fueled the anticipation that he will step down sooner.

Gensler seemed to be musing on his time at the agency in his speech. Defending his regulatory approach, he clarified his position on reforms. His tenure has focused on modernizing financial markets, despite criticism from the crypto community.

Ultimately, the tension between Gensler and the cryptocurrency industry highlights a growing divide over regulatory oversight. Winklevoss’ pointed criticism underscores the frustration felt by many in the sector. With so much speculation surrounding Gensler’s potential departure, the industry is looking ahead on how a new leadership could shape the crypto regulations.

The post Winklevoss Calls for Gensler’s Ouster from Crypto Industry appeared first on CryptoTale.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!