SEC candidate will face U.S. Senate scrutiny
On November 22, Chairman of the U.S. Securities and Exchange Commission (SEC), Gensler, announced his resignation. However, the candidate for the new chairman of the SEC will face scrutiny from the U.S. Senate, and any nominee must be confirmed by the Senate. The SEC announced Gensler's departure in a press release. During his tenure, the SEC filed lawsuits against several popular Web3 protocols and exchanges, including Coinbase, Uniswap, Metamask developer Consensys, blockchain video streaming platform LBRY etc. These lawsuits have been criticized by many cryptocurrency users and investors.
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