The Blockchain Association has released a comprehensive document backing Coinbase option on the legal rationale behind its argument calling for the recusal of Securities and Exchange Commission Chair Gary Gensler from any decision-making processes. This is regarding the initiation or continuation of an enforcement action based on the assertion that a digital asset qualifies as a security.
The association said Chair Gensler’s consistent public assertion that ‘everything other than bitcoin’ should be considered a security, raises concerns and creates, at the very least, an appearance of a closed-minded approach to this matter.
By repeatedly expressing this viewpoint, Chair Gensler has essentially pre-judged the core issue involved in enforcement proceedings related to digital assets.
Consequently, his vote on whether to pursue filing an action becomes compromised by bias, thereby infringing upon the due process rights of the subjects under investigation.
The SEC’s Approach To Dig
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