U.S. Rep. French Hill says SEC should change leadership next year, no matter which party controls White House

On Oct. 25, Decrypt reported that U.S. Rep. French Hill said in an interview that the Securities and Exchange Commission (SEC) should have new leadership next year, regardless of which political party controls the White House, and that Gary Gensler's “fear-mongering” at the SEC was unconstitutional and an abuse of the agency's regulatory authority. Hill said Gary Gensler's “fear-mongering” at the SEC was unconstitutional and an abuse of the agency's regulatory powers. He suggested that the SEC adopt exemptions from relief for emerging industries such as cryptocurrencies and take a pro-innovation stance.

Hill and other Republican lawmakers have criticized SEC Chairman Gary Gensler's actions in recent years and accused him of failing to provide a clear regulatory framework for digital assets.