TechFlow news, September 24 — According to Ibtimes, the U.S. House Committee on Financial Services will hold a hearing titled "Oversight of the SEC" on September 24, with SEC Chair Gary Gensler set to attend and testify. The following day, he will appear separately at a Senate hearing. After news of Gensler's appearance was announced, numerous members of the crypto community expressed criticism and dissatisfaction.
NFT collector Medic Matt said that attending Congress would be "a great resignation opportunity," reflecting a sentiment within the community calling for Gensler to hand over the SEC chairmanship to someone more capable. Crypto researcher Anderson predicted he would see Gensler "not answer any questions, just waste everyone’s time." Anderson referred to a 2023 hearing where Gensler repeatedly refused to answer lawmakers’ questions about whether Ethereum qualifies as a security or a commodity.
Crypto YouTube blogger James Rule questioned whether Democratic Senator Elizabeth Warren would write answers for Gensler in advance. Warren and Gensler have been accused of deliberately working to destroy the cryptocurrency industry. Crypto investor and developer Leon Gaban said the SEC should be shut down. He urged Gensler: "Resign now before you get fired." Republican presidential candidate Donald Trump has stated that if elected in November, he would fire Gensler on his first day in office.
Crypto analyst Jonathan Morgan reminded Gensler that his "Democratic allies" can no longer "slander" the crypto industry, as an increasing number of Republican politicians have acknowledged its rapid growth.
