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Gary Gensler Gets Attention for His Poor Performance Review by CoinEdition


© Stocksak Gary Gensler Draws Attention for His Bad Performance Review
  • Gary Gensler has been in the spotlight because of his poor performance review.
  • Notable crypto experts gave their opinions on Gensler’s performance.
  • The IG points out that the SEC has not reported fully the consequences of this internal control gap.

Gary Gensler, SEC chairman, has come under fire for his poor performance review. Businesses, agency officials, and senators are raising concerns regarding Gensler’s regulations that could dampen the economy.

According to the report, Gensler’s leadership has received a harsh review from the SEC Office of Inspector General (IG) this month. According to the IG, the Division Managers stated that Gensler’s rapid pace of getting things done was overwhelming their staff and consuming precious resources.

The IG report said:

Some believed that the more aggressive agenda—particularly as it relates to high-profile rules that significantly impact external stakeholders—potentially (1) limits the time available for staff research and analysis, and (2) increases litigation risk

Some crypto experts gave their opinion on the review shortly after it was published. Several investors and lawyers including John E Deaton, James K Filan, Ben Armstrong, Stuart Alderoty, and Eleanor Terrett took to their social media handles to give their opinions on Gensler’s performance review.

John E Deaton, the founder of Crypto-law, ridiculed Gensler’s willingness to look into his finances and seek out Vanguard, his personal wealth manager. He does not offer any consideration to 75K retail token holders.

Next to poke fun at Gensler was Ben Armstrong. Armstrong is the founder of BitBoyCrypto.com and he in the best possible humor roasts the SEC chair.

Armstrong wrote this tweet:

Oh Father, who is with us, Dirty @GaryGensler be our name

Protect us from our investments, no matter how dumb we are. Don’t forget to save us from those companies like META who attempt to ruin us with 20% red candles. As our guardian, Gary, be with us always. Forever and ever

Furthermore, General Counsel, Stuart Alderoty added that this is SEC’s own cop on the beat saying the commission has no jurisdiction over crypto, despite his embarrassingly bad performance evaluation.

The IG concludes that the SEC has not fully reported the true consequences of the gap in internal control. Gensler has not yet commented on the performance review.

The post Gary Gensler Draws Notice for His Bad Performance Review appeared originally on Coin Edition.

See original on CoinEdition

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