Shiba Inu’s burn tracker has shared a tip to Gary Gensler, asking him to resign as the United States Securities and Exchange Commission chairperson.
In a surprising development, Shibburn, Shiba Inu’s burn tracker, has asked SEC Chair Gary Gensler to resign.
This occurred yesterday after Gensler urged the public to share tips to improve the commission. In a tweet yesterday, Gensler said the regulatory agency plans to update the capital market rules to address the industry’s challenges.
Per Gensler, the public can help by sharing tips via any of the SEC’s supported channels, including online form, email, and mail.
Several members of the crypto community reacted to Gensler’s request. Interestingly, Shibburn joined other crypto enthusiasts to drop a tip.
“Here’s a tip: Resign,” Shibburn tweeted.
Here's a tip: Resign.
— Shibburn (@shibburn) August 7, 2023
Other Crypto Enthusiasts Want Gensler Removed
Shibburn’s “tip” to Gensler may surprise many, given that Shiba Inu does not usually meddle in crypto regulation matters.
The canine-themed cryptocurrency mainly focuses on projects that could drive the adoption of SHIB, including Shibarium.
Meanwhile, Shibburn is not the only crypto-focused that thinks the SEC Chair should resign. The crypto community has accused Gensler of favoring regulations that stifle US innovation.
For many, Gensler prefers to regulate the industry using enforcement actions. His regulatory tactics have been criticized by many, with some calling for his resignation or sack.
In June, crypto-friendly congressman Warren Davidson filed a bill dubbed SEC Stabilization Act. The bill aims to restructure the SEC and also fire Gensler.
SEC Debunks Gensler’s Resignation Rumors
In other news, the SEC previously debunked a widespread rumor last month, claiming that Gensler has resigned as the commission’s chairperson.
The rumor, which made the rounds within the crypto community, sparked widespread jubilation within the crypto community.
Many people do not think Gensler should continue heading the commission, given his adverse regulations against crypto.
However, the SEC debunked the rumor, thus putting an end to the speculation that garnered attention within the crypto space.
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