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The discussions over the potential removal of the current US SEC Chair, Gary Gensler, peaked after Donald Trump’s election win. The crypto community calls for his resignation from the position, with many deeming Gensler as the anti-crypto regulator who has hindered innovation in the crypto sector. Amid this, discussions have soared over the potential names who can replace the current Chair under Trump’s presidency.
Who Will Replace US SEC Chair Gary Gensler?
According to recent reports, the US SEC Chair Gary Gensler is likely to announce his resignation as soon as this year. Besides, former SEC official John Redd Stark has also recently called for Gensler’s exit which could help bring changes in the current crypto regulations.
Notably, these discussions have also peaked as speculations rise that the current chair may resign this week. Pro-XRP lawyer James Murphy, also known as MetaLawMan, cited historical trends and said that he could resign soon like the previous Chairs. Besides, Donald Trump’s crypto promises during his election also included firing Gensler on his first day in office, which has also sparked discussions over the matter.
However, the question arises of who can take the position then, if Gensler exits from the office. According to a CNBC report, Robinhood CLO Dan Gallagher and a flurry of candidates including SEC Commissioner Mark Uyeda, and others could replace him.
In addition, other possible candidates are Hester Pierce, former CFTC Chairman Heath Tarbert, and SEC Commissioner Paul Atkins. Richard Farley and Robert Stebbins are also among the potential contenders.
Although it is not yet confirmed who will replace the current US SEC Chair, discussions have peaked in recent days. Besides, given the pro-crypto leadership in the House and Senate, many expect the new Chair to propel clear crypto regulations and boost the growth and innovation in the sector.
US Crypto Appeal Soars With Republican Victory
The potential firing of the US SEC Chair Gary Gensler is likely to further bolster the market sentiment in the coming days. Notably, the broader crypto market, along with Bitcoin and other top altcoins have rallied after Donald Trump’s election win in 2024.
Besides, the anticipation over pro-crypto policies in the US has also boosted the nation’s appeal among global investors. Notably, a recent report hints that the UK government is also moving towards crafting crypto-friendly regulations to counter the US’s soaring influence in the digital assets space.
Meanwhile, Donald Trump appears to be committed to making America the crypto capital of the world. Additionally, he also pledged to make Bitcoin a strategic reserve for the US. These comments have also created global FOMO, with many countries expected to follow the same track making BTC a strategic reserve.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam's expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news. Rupam's career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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