Financial Times
The month of June is said to be quite an eventful month with United States Securities and Exchange Commission (SEC) filing lawsuits against the two biggest crypto exchanges, Binance and Coinbase in the first week.
The policies of Gary Gensler have received a lot of criticism from players in the sector. Jay Clayton, the former SEC Chairman, has slammed the regulatory approach of Gary Gensler towards the crypto industry.
Jay Clayton, in an interview with CNBC, quoted previous remarks from Gary Gensler, “if we’re not losing cases, we aren’t suing enough businesses”. Jay Clayton thinks that this shows a fundamental shift of how the role of the government is seen by the Americans. He also goes on to say that the role of Gary Gensler is not the right one.
According to Jay Clayton, the regulator should only bring cases what they believe will satisfy the legal requirements. There have been comments that Gary Gensler is behaving more like a politician rather than a regulator. However, Jay Clayton before signing off from the office in late December 202 was the one slapping a lawsuit against Ripple. But so far, Securities and Exchange Commission has not been so far successful enough in proving that Ripple sold XRP as unregistered securities during it's ICO back in 2013.
Gary Gensler is said to be appearing before the US House Committee soon to revise the market structure for digital assets. A Congressman from Ohio, Warren Davidson, after the actions from Gary Gensler this month, filed for removing Gary Gensler from his post and restructuring of the agency.
Follow me:
Hive: 
Twitter: www.twitter.com/decoding1011
Discord: decoding#9631