Gary Gensler, the head of the SEC, broke rules with the Kardashians' settlement.
Now it is said that Gary Gensler, the head of the SEC, broke rules with the Kardashians' settlement.
SEC chair broke the rules?
A Fox Business reporter named Charles Gasparino said that the SEC Enforcement staff said the SEC chair broke the rules by talking up the recent $1.26 million. He said that Gensler went on a news channel right after telling the media about the case.
He said that the staff doesn't like this and thinks it's just a publicity stunt. This was done to make him look better so that he could be named Treasury Secretary. It is said that the SEC chair then went to the news media in a sneaky way to take all the credit for himself.
According to the report, the chair of the SEC made a video about the settlement without telling anyone. This is a strange thing for the chief to do, since they usually let the staff take credit for things like this. While it makes them want to work on bigger problems in the future.
The Fox Business reporter pointed out that this is the latest fight between the chair of the SEC and the enforcement department. When people do these things, they lose lawyers. As the SEC moves into nontraditional areas, however, Gensler's management style and workload have come under fire from a number of people.
Watchdog starting a new story?
Earlier, CoinGabbar said that Amicus Curiae attorney John Deaton in the XRP lawsuit brought up the SEC chair's new approach to digital assets.
He talked about how the term "crypto asset security" has been given a name by the commission. Deaton thinks that this is part of being in charge of the story. According to the lawyer for people who own XRP, the SEC no longer calls it a "digital asset security." In both the Ripple case and the LBRY case, the same words were used.
But, the complaint says that Kardashian didn't say how much she was paid to promote the token.
