Tim Draper: The Gensler-led SEC is overstepping its bounds on crypto enforcement

According to a tweet by Fox Business reporter Eleanor Terrett, Silicon Valley investor and billionaire Tim Draper said: "Weak regulators spread fear and strong regulators spread opportunity. the Howey test was almost 80 years ago and has nothing to do with cryptocurrencies. I think cryptocurrencies need to be regulated in a new way from a new group of people. I think our regulators are acting out of bounds and it's time to rein them in. gensler (SEC Chairman Gary Gensler) is destroying our country. " 

This comes on the heels of news earlier today that U.S. House members have introduced a bill calling for the firing of SEC Chairman Gary Gensler.