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International Business Times

Business

Marvie Basilan

Lawmakers Investigate Crypto Nemesis Gary Gensler For Suspected Hiring Favoritism

Gary Gensler SEC Crypto Patrick McHenry Republican

SEC Chair Gary Gensler refused to clarify the status of Ether as a security or a commodity during a Congress hearing last year. U.S. House Committee on Financial Services YouTube | Oversight of the Securities and Exchange Commission (EventID=115751) (Credit: U.S. House Committee on Financial Services YouTube Channel/Screenshot)

KEY POINTS

The lawmakers said if the allegations are proven to be true, Gensler violated the law in Zhu's hiring
Zhu said in an email cited by the lawmakers that he was "in the right place on the political spectrum"
Many crypto users celebrated the development, saying it is now Gensler's turn to be investigated

Three GOP House lawmakers are investigating U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler over the regulator's hiring practices under the "anti-crypto" chief's leadership.

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