Pro-Crypto Lawmakers Probe SEC Chair Gensler Over Alleged Political Bias
SEC Chair Gary Gensler is under investigation by Republican lawmakers for alleged political favoritism in hiring practices. The inquiry, led by Representatives Jim Jordan, Patrick McHenry, and James Comer, focuses on an email from Dr. Haoxiang Zhu, the SEC Director of Trading and Markets, suggesting his political alignment influenced his hiring. Lawmakers claim this indicates unlawful consideration of political ideology in hiring, potentially violating the Civil Service Reform Act of 1978. Gensler has been ordered to provide documents related to hiring decisions and applicant evaluations by September 24. The investigation coincides with criticism of the SEC's actions under Gensler, which are seen as detrimental to the crypto industry amid calls for clearer regulatory frameworks.
