Gemini Joins Coinbase in Rejecting SEC Veterans in the Crypto Industry | BinanX News

Tyler Winklevoss, co-founder of crypto exchange Gemini, has stated that his company will adopt the same policy as Coinbase, cutting ties with any law firm or entity that hires former officials of the US Securities and Exchange Commission (SEC). ) associated with alleged overreach against. the digital asset industry.

His decision comes in the wake of Coinbase CEO Brian Armstrong’s recent comments where he criticized law firms and industry stakeholders for welcoming former SEC employees implicated in anti-crypto policies.

Tyler Winklevoss amplifies Armstrong’s message

On November 5th mail At

The Coinbase executive’s strong position led his company to cut ties with global law firm Milbank after it hired former SEC compliance director Gurbir Grewal.

The lawyer, who played a central role in more than a hundred enforcement actions, resigned just before the SEC’s appeal in its high-profile case against Ripple. At the time, legal experts questioned why he had chosen that particular moment to abandon ship, with some speculating that it indicated discord within the agency.

The broader crypto community also scrutinized the SEC’s tactics, with critics such as attorney Jeremy Hogan arguing that its appeal in the Ripple case risked backfiring, potentially weakening its regulatory influence over the industry.

Armstrong had accused the financial watchdog’s leadership of attempting to stifle the crypto sector through unclear regulations and enforcement actions. He maintained that top officials who did not resign during this term are responsible for the SEC’s controversial tactics.

Additionally, he emphasized that while he did not support the “permanent cancellation of individuals,” he was of the opinion that those who contributed to the regulatory agency’s overreach should not be allowed to benefit financially from the crypto industry.

Justin Sun offered to hire Gary Gensler

Previously, Tron founder Justin Sun proposed a job offer to outgoing SEC Chairman Gary Gensler following Donald Trump’s election victory in November.

During his campaigns, Trump made several promises to the crypto community, including getting rid of Gensler on his first day in office. With speculation rife about the future of the highly unpopular regulator, Sun shared his willingness to hire Gensler in an unspecified capacity, as long as the former MIT professor treated the crypto industry sincerely.

However, the actions of Winklevoss and Armstrong may be an indicator that not all players in the sector are willing to let things slide; instead, they are attempting to create accountability within legal and regulatory spaces.