US Lawmakers Want To Slash Gary Gensler's Salary From Over $300K To Just $1 — Here's Why
Portfolio Pulse from Mehab Qureshi
US lawmaker Rep. Tim Burchett has proposed an amendment to the Financial Services and General Government bill to reduce the salary of SEC chair Gary Gensler to $1 per year and defund the regulator. The move is part of a broader effort to reduce government spending and curtail regulatory overreach. The SEC has been criticized for excessive regulation and lack of proper cost-benefit analysis in its rulemakings. Bitcoin price is slightly down.
November 07, 2023 | 3:16 am
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The proposed defunding of the SEC and reduction of Gary Gensler's salary could potentially impact the regulatory landscape for cryptocurrencies, including Bitcoin.
The proposed changes to the SEC could potentially alter the regulatory environment for cryptocurrencies. However, it's unclear how these changes would specifically impact Bitcoin. The proposal is still in its early stages and may not be passed.
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