Crypto Community Mixed on SEC as Elon Musk's DOGE Considers Investigation
The crypto community and industry figures are expressing mixed sentiments towards the United States Securities and Exchange Commission (SEC) and its chair, Gary Gensler. Meanwhile, Elon Musk's Department of Government Efficiency (DOGE) is considering an investigation into the SEC's operations.
Parts of the crypto community are reminiscing about former SEC Chair Gary Gensler, who was perceived as more crypto-friendly during his tenure. Paul Grewal, Coinbase's Chief Legal Officer, has proposed a novel idea: defendants who successfully challenge the SEC in lawsuits should have their legal fees and costs covered by the SEC's budget.
Meanwhile, Elon Musk's DOGE is contemplating significant reductions at the SEC. Speculation suggests that the DOGE may investigate the SEC, with some users on X advocating for an initial focus on the SEC and Ripple litigation. The DOGE has also called on the public to share insights on potential waste, fraud, and abuse within the SEC.
Hester Peirce, the head of the SEC's new Crypto Task Force, has opposed proposed budget cuts at the agency.
The crypto community's nostalgia for Gary Gensler and Paul Grewal's proposal highlight the ongoing tension between the crypto industry and the SEC. Elon Musk's DOGE considering an investigation into the SEC adds another layer of intrigue, with Hester Peirce's opposition to budget cuts indicating internal disagreement within the SEC.
Read also:
- Title Transformation: Utilizing the Shifting Dynamics of British Politics, Bernie Sanders' Potential Advantage
- Strategies for Conquering Major Obstacles in Expanding a Political Group
- Ontario falls short by a small margin in delivering the goal of four hours daily care for long-term care residents.
- Kamala Harris Reveals Plans to Steer Clear from 2026 California Gubernatorial Race, Sparking Curiosity about Her Future Professional Plans
