In a recent interview, Congressman French Hill was asked about former President Donald Trump’s statement at the Bitcoin conference regarding his intention to fire SEC Chair Gary Gensler on his first day back in office. Hill provided details into the complexities of making such a change, explaining that the SEC operates as an independent agency.
The Term Limits and Appointment Process
Talking to Thinking Crypto, Hill said that Gensler’s current term is set to expire in June 2026, which complicates any immediate dismissal. “It’s not an automatic issue,” Hill stated, saying that the legal framework surrounding the SEC’s leadership isn’t entirely clear. Traditionally, newly elected presidents can invite executive branch officials to resign, potentially paving the way for new appointees.
Potential Outcomes for Gensler’s Position
There is also a possibility, according to Hill, that Gensler could remain a commissioner while being replaced as chair. This would allow a Trump appointee to assume the chair position while Gensler keeps his seat on the commission. However, Hill said that the specifics of such a scenario remain uncertain.
Critique of Current SEC Leadership
The Congressman expressed his dissatisfaction with Gensler’s leadership, particularly in the realm of digital assets. “I don’t think Chairman Gensler has done a good job at the SEC,” said. Hill stressed the need for future SEC leadership to be more pro-innovation, suggesting that the agency should utilize its powers to provide exemptions that encourage experimentation in emerging areas rather than adopting an adversarial stance.
He praised Commissioner Hester Peirce for her efforts to communicate these issues to the public and expressed hope for a new chair at the SEC after the next presidential election, regardless of who wins.
