From Crypto to Meme Stocks, GOP Senators Blast Gensler’s Agenda

U.S. Securities and Exchange Commission Chair Gary Gensler’s ambitious plans to rein in everything from cryptocurrencies to the meme-stock frenzy are drawing fire from Republicans.

During a Tuesday appearance before the Senate Banking Committee, GOP lawmakers denounced Gensler’s agenda for stifling innovation, increasing costs for investors and veering into social issues like climate change and workforce diversity that have nothing to do with the SEC’s core mission.

Gary Gensler during a Senate hearing in Washington, D.C. on Sept. 14.

Photographer: Evelyn Hockstein/Reuters/Bloomberg

The rebukes -- some of the loudest Gensler has faced since taking over the agency in April -- resembled criticisms that financial-industry lobbyists have made privately about President Joe Biden’s SEC chief. ...