The SEC's loss to Grayscale has caused Rep. Warren Davidson to renewed calls for Gensler's removal.
, Grayscale won its lawsuit against the SEC in court, which granted the firm’s petition for the Commission to review its application to convert the Grayscale Bitcoin Trust into a spot Bitcoin exchange-traded fund .
In April, Davidson, the politician, said he would introduce legislation to remove Gensler as SEC chair and replace the chairmanship role with that of an executive director as a way “to correct a long series of abuses.” The Chairman of the US House Committee on Financial Services, Patrick McHenry of the Republican party, also reacted to Grayscale’s win,“SEC Chair Gary Gensler’s crusade against the digital asset ecosystem is falling apart under scrutiny from the courts. This is yet another example of why a comprehensive regulatory framework, like the FIT for the 21st Century Act, must be made law.”that the only reason the SEC Chair would oppose such a product is “if he wants to kill crypto in the U.S.
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