By Gerry Scimeca. (Washington Times). June 5, 2024.
Is it incompetence or intentional? That question becomes unavoidable when examining the Biden administration’s myriad head-scratching decisions. It is hard not to wonder whether their failures are by design or unintended consequences.
Security and Exchange Commission Chairman Gary Gensler has become a model for this administration’s failures, placing us behind and at a marked disadvantage in digital currencies to our global competitors.
Mr. Gensler’s inept SEC has stifled an innovative American industry, making us a laggard in creating a framework for domestic cryptocurrency companies and users. As I noted in a previous column highlighting Mr. Gensler’s coddling of the now-infamous Sam Bankman-Fried, Mr. Gensler “has proven adept at failing to do his job while acting beyond his powers to wreck U.S. companies, injure our economy, and undermine America’s role as the global leader in innovation.”
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