Former SEC attorney suggests Crypto proponents not to criticize Gensler

John Reed Stark defended the current SEC chairman, Gensler, as he faced huge criticism from the crypto sector for the lawsuit actions, the SEC body initiated against the two crypto companies.

John Reed Stark is a former attorney of the United States Securities Exchange Commission (SEC). Recently Stark took to Twitter to address those people who are blindly criticizing the SEC chairman Gary Gensler.

The former SEC official said that people should now focus on considering laws & facts in the Crypto vs SEC battle and also people need to leave personal attacks against Gensler or the SEC body. 

“It’s time to attack the facts and law on SEC positions and quit the personal attacks on the SEC Chair or the SEC staff. It’s an anemic and flawed pivot that does not work in a courtroom and is a transparent and bush-league attempt to rally the mob,” he said.

Agree with @Marc_Fagel, SEC Commissioner Hester Peirce has a clearly pro-crypto ethos but never in a million years would I expect her to recuse herself because of her beliefs. And the same goes for SEC Chair Gary Gensler.

By way of background, @HesterPeirce now blames the SEC… https://t.co/zbpnYciwNq

— John Reed Stark (@JohnReedStark) June 30, 2023

Earlier this, Stark shared his opinion on the SEC vs Crypto crackdowns and said that this was beginning & also suggested crypto investors remain away from the centralized crypto exchanges, as they may not be safe at the level where they claim.

Gensler joined the SEC agency in early 2021. At the time the crypto community was expecting better regulatory results under the leadership of the new chairman but the opposite happened.

Recently few people started to spread a rumor in the crypto community that Gensler will soon resign from his role. So far no big media has talked about this rumor so  there is a huge chance that these are only rumors.

BREAKING: INTERNAL SOURCES AT THE SEC CONFIRM GARY GENSLER WILL RESIGN. #XRP #RIPPLE pic.twitter.com/OpohrSKpd1

— Documenting Ripple (@RippleArchive) July 2, 2023

Last month, House Majority Whip Tom Emmer of Minnesota and Representative Warren Davidson of Ohio introduced a bill to kickout out Gensler from the SSC agency. The bill mentioned several facts against the current chairman but legal experts confirmed that there are only some certain circumstances where the US president has authority to remove any official from the independent regulatory body and the case is not the same here. 

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