According to Foresight News , Cointelegraph reported that Republicans in the U.S. House of Representatives have launched an investigation into Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC). Three Republican lawmakers questioned the SEC's recruitment process, accusing the agency of possibly recruiting based on political affiliation, suspected of violating federal law, and demanding transparency in its recruitment decisions. During Gensler's tenure as chairman of the SEC, enforcement actions increased significantly, with enforcement actions against cryptocurrency companies reaching a 10-year high in 2023, doubling from 2021.
Foresight News previously reported that Trump said in a speech at the Bitcoin 2024 conference that if elected, he would end the current government's hostility towards encryption, and on his first day in office he would dismiss SEC Chairman Gary Gensler and establish a presidential encryption adviser position.
