June 29 (Cointime) - The Blockchain Association has called for SEC Chair Gary Gensler to recuse himself from any enforcement actions involving digital assets as securities due to his perceived bias. The Association argues that Gensler's stance that all digital assets other than bitcoin are securities shows a preconceived bias that could compromise due process rights.
The Wells process, a key element of due process, allows the accused party to present their defense, but the Association fears Gensler's bias could obstruct a fair evaluation of vital questions for the digital assets industry. If Gensler refuses to recuse himself, enforcement targets may raise the issue of his recusal in SEC proceedings and federal district courts.
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