In next week’s presidential election, whoever wins, there seems to be a high probability of a new appointment as SEC Chairman. Some donors supporting Vice President Kamala Harris’ campaign want a replacement for current chair Gary Gensler. According to sources, Harris’ transition team is evaluating candidates for SEC Chairman.
Kamala Harris’ Team Is Vetting the Candidates
Donors supporting Kamala Harris’ campaign are seeking a new appointment to replace SEC Chairman Gary Gensler. In line with this expectation, Harris’ transition team began evaluating candidates. The crypto community is following this process closely in hopes of seeing a more moderate SEC chairman.
Former president Donald Trump announced that if he is elected, he will fire Gary Gensler on his first day in office. He has the ability to attract Gensler to the commissioner position, although he does not have the legal authority to do so directly. This strengthens the possibility that a more crypto-friendly SEC chairman will take office in 2025.
Crypto Community Favorite Hester Peirce Doesn’t Want to Be President
Hester Peirce, known as the “Crypto Mother” in the crypto community, stated that she is not keen on the SEC Presidency. Peirce plans to leave the SEC when his term ends in June 2025. According to the statement made by Peirce’s office, it is stated that Peirce is considering becoming a “beekeeper” after this duty, but he has hesitations even about this.
Peirce is known within the SEC for his criticism of Gary Gensler’s heavy-handed approach to the crypto industry. Differences with Gensler over crypto regulations appear to have led Peirce to want to stay away from management positions such as the presidency.
Mark Uyeda Stands Out Among Potential Candidates
Mark Uyeda, mentioned among other potential candidates, is one of the names with a more positive view of the SEC Presidency. However, Peirce’s commitment to public service and his innovative stance also stand out as an element to be taken into consideration.
These possible changes to the SEC Presidency could have significant impacts on regulations for the crypto industry. The appointment of a new president raises expectations for a more supportive approach in the industry. However, the candidates’ wishes and the political decisions in this process seem to play a key role in determining the final outcome.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
