• Advertise with us
  • Pricing
  • Submit News
Instagram Twitter Facebook Telegram Youtube Linkedin
EdaFace Newsfeed
EdaFace Newsfeed EdaFace
  • News
    • Price Analysis

    Main News

    • Crypto News
    • Bitcoin and BTC
    • Altcoin News
    • Security & Hacks
    • ICO & Token Sales
    • Interviews & Profiles

    Information

    • Press Release
    • Research Report
    • Regulations, Law & Policy
    • Community/Guest Post
    • Events & Conferences
    • Tutorials & Guides

    Market

    • Technical Analysis
    • Price Analysis
    • Cryptocurrency Price Prediction
    • DeFi (Decentralized Finance)
    • Mining & Staking

    Other Categories

    • NFTs & Digital Art
    • Opinion & Editorials
    • Tech Innovations
  • Cryptocurrencies
    • Coin Ranking
    • Trending
    • EDA Token
  • Exchanges
    • Spot
    • Derivatives
    • DEX
    • EDA Plantation
  • Verification Centre
    • Rug Pull Check
    • Blockchain Ecosystem
    • EDA Token
  • MarketPlaces
    • NFT Marketplace
    • Digital Literature
    • Digital Mall
    • P2P Market
    • Metaverse
  • EDA Academy
More
  • News
    • Price Analysis
  • Cryptocurrencies
    • Coin Ranking
    • Trending
    • EDA Token
  • Exchanges
    • Spot
    • Derivatives
    • DEX
    • EDA Plantation
  • Verification Centre
    • Rug Pull Check
    • Blockchain Ecosystem
    • EDA Token
  • MarketPlaces
    • NFT Marketplace
    • Digital Literature
    • Digital Mall
    • P2P Market
    • Metaverse
  • EDA Academy
Reading: Donald Trump May Not Fire Gary Gensler: Reasons
Share
Sign In
EdaFace Newsfeed
EdaFace Newsfeed EdaFace
EdaFace Newsfeed > Latest News > Regulations, Law & Policy > Donald Trump May Not Fire Gary Gensler: Reasons
Regulations, Law & Policy

Donald Trump May Not Fire Gary Gensler: Reasons

vitalclick
Last updated: November 6, 2024 1:47 am
4 months ago
Share
SHARE

After the possible new administration of the USA, the future of SEC Chairman Gary Gensler became a matter of discussion. There has been speculation about the possibility of a Donald Trump or Harris administration making changes to SEC leadership. However, crypto Lawyer Dave Michaels pointed out legal details that prevented Gensler from being removed immediately.

May Not Have Power to DismissWill Cryptocurrencies Relax?

May Not Have Power to Dismiss

Michaels took to social media to address the question of whether a chairman change could unseat SEC Chairman Gary Gensler. 1935 Humphrey’s Executor v. He noted that the United States case prevents removing independent agency heads, such as FTC commissioners, based solely on executive preference.

Although this decision directly implicates the FTC, it could be interpreted similarly, given the SEC’s similar independent structure and regulatory oversight functions.

This precedent shows that independent agency leaders like Gary Gensler are difficult to dismiss without cause. This protection is designed to protect heads of regulatory agencies from political influence and executive changes.

“A 1935 Supreme Court case protected an FTC commissioner from presidential removal. “He didn’t talk about the SEC, but the modus operandi and independence across the two commissions are similar.” –Dave Michaels

However, Michaels noted that historically SEC chairmen have resigned when an opposing political party came to power and allowed the new administration to appoint a compatible successor. He added that this practice could influence Gary Gensler’s decision in the event of a leadership change.

Will Cryptocurrencies Relax?

The change of SEC Chairman could affect the regulatory approach towards cryptocurrencies. It is known that during the Gary Gensler era, compliance costs for crypto companies exceeded $400 million and the SEC’s aggressive supervisory actions were criticized in the industry.

In particular, former SEC official Marc Fagel said the SEC is considering Ethereum called Immutable. $2,438 He criticized the sudden Wells Notice decision regarding the based gaming company. Fagel called the SEC’s abrupt approach “risky,” noting that companies need extensive communication before receiving such notices.

The crypto community is predicting that Donald Trump may appoint Robinhood CLO Dan Gallagher as SEC chairman, which could reshape the SEC’s approach towards crypto assets. It is hoped that the new leader will introduce clearer regulatory guidelines and be able to encourage innovation in the crypto sector.

It is known that if Gary Gensler does not resign from his position, Donald Trump will have limited options to remove the Chairman of the SEC and may force him to resign by redistributing responsibilities within the SEC. And of course, above all, Trump must be able to win the election.

These possible changes to the SEC Chairman’s seat could have significant impacts on the future of crypto markets and the regulatory environment. Trump said that if he won the elections, one of his first actions would be to fire Gensler.

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.

You Might Also Like

SEC Commissioner Announces Things That Will Change for Cryptocurrencies with Trump

Cryptocurrency Exchange’s SEC Challenge Fails in Early Stage

US Department of Justice Charges Crypto Company Founder with Market Manipulation

Prison Sentence for Person Who Underdeclared Bitcoin Earnings

Terraform Labs Founder Do Kwon Finally Appears in Judgement

TAGGED:law
Share This Article
Facebook Twitter Email Print
Previous Article This Indicator Explains the Current Situation in Cryptocurrencies
Next Article Can It Compete with Paws?
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Crypto Live Widget

Follow for Live Updates
Subscribe to our newslettern

Get Newest Articles Instantly!

- Advertisement -
Ad imageAd image
Popular News
Cryptocurrency Regulation in Russia : Blockchain Development
Current Cryptocurrency Regulations in India
Explore Cryptocurrency Regulation in South Korea
2 Altcoins Win Trial
Claimed Bitcoin Inventor Craig Wright Gets Shocked in Court! His Assets Are Frozen

Company

  • Vision
  • Mission
  • LitePaper
  • Whitepaper
  • Core Values
  • Branding
  • Teams
  • Career Listing
  • FAQ
  • Welfare Donations

Products

  • EDA Token
  • Blockchain Literature
  • EdaFace Dex
  • EdaFace Mall
  • Listing Platforms
  • Newsfeed
  • NFT Marketplace
  • P2P Market
  • Scam Verification Centre
  • School of Crypto

Legal

  • Term of Use
  • Privacy Policy
  • Disclaimer
  • Listing T&C
  • Listing Platforms
  • Eda Token Policy

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

EdaFace

About US

EdaFace is a user interface aggregator that brings all the various functionalities of the crypto industry onto a single platform! You can advertise, launch and crowdfund your crypto project via EdaFace Launchpad and Newsfeed.

Contact us: support@edaface.com

Follow us

Instagram Twitter Facebook Telegram Youtube Linkedin

Copyright © 2022 – 2024. EdaFace is a product of Emerging Digital Age (EDA) Pty Ltd. All Rights Reserved.

Join Us!
Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.
EdaFace
Welcome Back!

Sign in to your account

Lost your password?