These Are The Top Contenders For The Next SEC Chair; Speculations Rife

Share This Post

Altcoin Rally in Danger: Ripple Documentary to Expose Ethereum and SEC Corruption, Threatening Upcoming Rallies

The post These Are The Top Contenders For The Next SEC Chair; Speculations Rife appeared first on Coinpedia Fintech News

As the U.S. presidential election approaches nearer, there is rising speculation over who could be the next SEC Chair. The current SEC Chair, Gary Gensler, appointed by Joe Biden in 2021 has been criticized over his stringent regulatory stance, particularly concerning cryptocurrency markets. Under Gensler, numerous enforcement actions have been taken against major entities.

Therefore, the appointment of a new SEC Chair is expected to greatly influence the regulatory landscape, particularly concerning cryptocurrency and digital assets. A change in leadership could lead to shifts in policy, potentially promoting a more adaptive environment for digital assets.

Notably, Both the major presidential candidates have indicated intentions to replace him if elected. While Donald Trump has promised the crypto community that he would fire current chair Gary Gensler on his first day in office, however, that won’t be easy. But he has the power to immediately demote him to a commissioner role. However, the question prevails of Who next?

Who Could Be The SEC Chair Under Trump?

Notably, the industry’s ideal pick would be Commissioner Hester Peirce, who has been publicly critical of Gensler’s strategy of regulating the industry through lawsuits rather than rulemaking. 

She also seems to be a likely choice if Trump wins the White House, given that she has been the most outspoken Republican on the Commission under Gensler and presidents typically nominate chairs who are from their own party. 

However, it is unlikely that she will be the next SEC Chair as she is looking to depart from the agency at the end of her term in June 2025. The Commissioner has earned the nickname “Crypto Mom” for her outspoken disagreements over Gensler’s aggressive take on crypto.

Harris’ Team Vetting Candidates To Replace Gensler-

As part of Harris’s transition planning, her team is already vetting candidates to replace Gary Gensler as the SEC Chair.

According to sources, two leading contestants that are being considered are  Georgetown Law professor Chris Brummer and Erica Williams, the current Chair of the Public Company Accounting Oversight Board (PCAOB).

Notably, both candidates are reportedly more open to the evolving crypto landscape than Gensler. 

Chris Brummer, known for his expertise in financial regulation, fintech, and international governance, has been an advocate for innovation in financial markets. His appointment could mean a more balanced approach toward regulating cryptocurrency, focusing on creating clear guidelines without choking innovation.

Erica Williams, on the other hand, has a strong background in auditing and regulatory oversight from her leadership role at the PCAOB. She also brings a practical perspective to crypto markets, favoring policies that maintain market integrity while enabling growth in the digital assets sector.

Several other individuals are also under consideration for the SEC Chair position:

  • Brian Brooks, the Former Acting Comptroller of the Currency and a prominent figure in the crypto sector, Brooks has been recognized for his efforts to integrate digital assets into the traditional financial system.
  • Robinhood Chief Legal Officer, Dan Gallagher is also emerging as a leading contender to head the SEC if Trump wins back the presidency. However, he could face some hurdles as there is a standard Democratic caution in appointing industry leaders to regulatory roles, and Robinhood’s past controversies like the decision to halt trading of GameStop shares during the meme stock frenzy of 2021 could cause problems for his candidacy. Also, it is not certain whether Gallagher would be willing to leave Robinhood for the SEC position.
  • Chris Giancarlo- Former Chairman of the CFTC, Giancarlo is known for his favorable views on digital currencies and blockchain technology. He has been nicknamed “Crypto Dad” due to his popularity in the crypto industry. Notably, During his tenure at the CFTC during the Trump administration, he approved the trading of BTC futures contracts, which was a necessary step toward spot Bitcoin exchange-traded funds (ETFs).
  • According to CNBC, Paul Atkins, a former SEC commissioner under former President George W. Bush, is also a potential candidate for SEC chair in Trump’s orbit.
  • Heath Tarbert’s experience as head of the CFTC from 2019 to January 2021 places him as a potential candidate for the SEC Chair. Under his leadership, the CFTC set several records, including the most cases handled in a fiscal year. Tarbert has extensive experience across the federal government, having worked in the White House, Department of Justice, and Treasury Department.
  • Robert Stebbins: Several industry experts are also considering Robert Stebbins as a potential candidate for the SEC chair role.

The industry is anxiously waiting for a new SEC Chair who could foster innovation in the crypto market and establish clear regulations for the industry. Stay tuned to know more.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

HTX DAO Launches Recruitment for New Governance Committee Members to Foster Sustainable Development

PRESS RELEASE To further advance the decentralized governance process, HTX DAO is now launching a global recruitment program for its new governance committee They are seeking highly qualified

Hong Kong’s ZA Bank Launches Crypto Trading: First Asian Bank to Offer Bitcoin & Ethereum!

The post Hong Kong’s ZA Bank Launches Crypto Trading: First Asian Bank to Offer Bitcoin & Ethereum! appeared first on Coinpedia Fintech News Zhong An Bank (ZA Bank), a digital bank based in

5 Best Cheap Cryptos to Invest Now Under 1 Dollar – Notcoin, Decentraland, Catslap

The cryptocurrency market is experiencing significant activity as Bitcoin edges closer to the $100,000 milestone Historically, a rise in Bitcoin’s price has often sparked gains

Ripple Teams Up with Archax and ABRDN PLC for First Tokenized Fund on XRP Ledger!

The post Ripple Teams Up with Archax and ABRDN PLC for First Tokenized Fund on XRP Ledger! appeared first on Coinpedia Fintech News Ripple has teamed up with Archax, a UK-based FCA-regulated digital

Solana Price Prediction 2024, 2025-2030: SOL Price Hits New ATH, Target $500?

The post Solana Price Prediction 2024, 2025-2030: SOL Price Hits New ATH, Target $500 appeared first on Coinpedia Fintech News Story Highlights The live price of Solana crypto is Solana price could

Cardano Price Prediction 2024, 2025-2030: Will ADA Price Hit $1?

The post Cardano Price Prediction 2024, 2025-2030: Will ADA Price Hit $1 appeared first on Coinpedia Fintech News Story Highlights The live price of the Cardano token is ADA coin price could reach a