U.S. Representative French Hill has called for new leadership at the SEC, criticizing Chairman Gary Gensler's approach to cryptocurrency regulation. Hill argues that Gensler's methods, which he describes as 'fear-mongering,' misuse the agency's authority and are unconstitutional. With increasing scrutiny over the SEC’s handling of digital assets, Hill suggests the agency should embrace a more proactive stance to support innovation, such as granting exemptive relief for new industries like cryptocurrency. His comments come against the backdrop of heightened regulatory scrutiny within the U.S. crypto market, as evidenced by reactions from other lawmakers and industry leaders. The uncertainty surrounding Gensler's future is compounded by the approaching presidential election, where potential changes in administration could influence his position. This follows claims from Ripple Labs' CEO, Brad Garlinghouse, who believes Gensler will be removed from his role, independent of the election outcomes.

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