“The industry – and the American voter – is ready for change and a fair shot,” said the BA.

“The time of law-fare against our industry must end. That begins with a change of leadership at the SEC.”

Many industry advocates and US lawmakers have criticized the SEC chair for a “regulation by enforcement” approach to crypto since assuming leadership in 2021.

Under Gensler, the commission has filed enforcement actions against Binance, Ripple, Coinbase and several other firms.