The post Gensler #OpenToWork? Who Will Be the Next SEC Chair appeared on BitcoinEthereumNews.com.

Donald Trump has declared his victory in the U.S. presidential election, speaking to supporters in Florida. What will happen to the SEC? Although the official election results have not yet been released, the crypto community is already celebrating Trump’s victory — but not the head of the U.S. Securities and Exchange Commission, Gary Gensler. Gensler has a distinctly negative stance on the crypto market, openly speaking about the dominance of “scammers and fraudsters” in it. Even when the SEC approved the launch of spot Bitcoin ETFs in the U.S., Gensler said that his attitude towards the crypto market had not changed: “Though we’re merit neutral, I’d note that the underlying assets in the metals ETPs have consumer and industrial uses, while in contrast Bitcoin is primarily a speculative, volatile asset that’s also used for illicit activity including ransomware, money laundering, sanction evasion, and terrorist financing.” Gary Gensler, SEC Chair When Trump spoke at the Bitcoin 2024 conference in Nashville in July to an audience of more than 20,000 participants, he promised to fire Gensler “on day one” if he won the election. America will probably say goodbye to Gensler earlier U.S. President Joe Biden appointed Gensler as the chairman of the SEC on April 17, 2021, and his term ends on Jan. 5, 2026. However, Gensler’s interference in the crypto industry and the lack of clear regulations could put him on the verge of being fired. Although Trump said he would fire Gensler, doing so will not be easy, as he must prove the inefficiency or negligence of the SEC’s chairman. Due to legal and administrative steps, the firing process could take more than a year. Trump will likely have to work with Gensler for some time before someone takes his place. But after all, who could replace him? Possible…

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Filed under: News - @ November 6, 2024 7:25 pm