Benzinga – In the wake of recent actions taken by the U.S. Securities and Exchange Commission (SEC) against renowned cryptocurrency exchanges Binance (CRYPTO: BNB) and Coinbase Global Inc (NASDAQ: COIN), Messari founder Ryan Selkis established a new advocacy group dubbed @DFA2024.
The organization aspires to challenge the ongoing skepticism and apprehension surrounding the cryptocurrency sector, often referred to as “fear, uncertainty, and doubt (FUD).”
Selkis took to his Twitter account to officially unveil the launch of the advocacy group.
@DFA2024 seeks to spearhead campaigns endorsing positive narratives about cryptocurrencies in opposition to what it views as undue negativity.
Furthermore, Selkis didn’t mince words regarding his displeasure with the present stewardship of the SEC under the chairmanship of Gary Gensler.
“I do not respect the SEC under Chair Gensler,” he said.
Also Read: Former CFTC Chair Joins Fray To Navigate Stablecoin Behemoth Circle Through Uncharted Regulatory Waters
Selkis underscored the group’s resolve, stating, “We’ll be fighting like hell the next 18 months to elect common sense politicians that will restore regular order to the regulatory state.”
His remark hinted at the possibility @DFA2024 may engage in lobbying activities to advocate for more accommodating cryptocurrency regulations.
He also highlighted the importance of visionary leadership as opposed to what he described as “incompetent and crooked cops on the beat,” which is a pointed criticism of the SEC’s current leadership.
In a subsequent tweet, Selkis went further by labeling Gensler as a “typical weak bully,” predicting that he will falter in legal battles against crypto exchanges.
“I have always hated bullies: they are almost always weak men who attain temporary authority, then abuse their positions once the drip of power hits their mouth. Chair Gensler is a very typical weak bully: tough talk, PR wins, laughed at by his employees, etc. He will lose,” he said.
In support, Rep. Warren Davidson (R-Ohio) responded, “I wish I could love this tweet more. More news soon. #FireGary.”
Read Next: EU Watchdog Calls Out Social Media, Elon Musk And ‘Finfluencers’ For ‘Crypto Con’
Photo: Shutterstock
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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