Can they fire Gensler thru senate? I think this is what they need for Spot ETF to go through.
The head of the SEC is an appointee of the President and confirmed by the Senate. The President is the person who has the right to sack the SEC chairman under some circumstances. The Senate can only recommend a sack to the president because they lack the power to do so. But the sack process can be very complicated.
He can be sacked by the senate.
Check out the proposal by Warren Davidson called the SEC Stabilization Act. They were trying to do just that.
The bill was aimed at removing Gensler and introducing some changes to the SEC.
https://www.congress.gov/bill/118th-congress/house-bill/4019/all-actions?s=1&r=12&overview=closedLooks like it's waiting until December.