“The SEC Chair has been politicised by Gary Gensler,” will Kamala Harris remove him if elected?
Sheila Warren, CEO of the Crypto Council for Innovation, talked about what might happen if Vice President Kamala Harris wins the November presidential election in a recent meeting. In an interview with The Paul Barron Network, Senator Elizabeth Warren provided some clarifications regarding her future in the Senate Banking Committee and her plans for SEC Chair Gary Gensler.
She began by stating that the SEC is meant to be a neutral, impartial organisation. But under Gensler’s direction, it has become more and more politicized—a development that has angered many not just in the cryptocurrency space but also in other industries. Due to his tough regulatory approach, Gensler has become unpopular with a wide array of industry actors, including exchanges and other financial firms, as a result of the SEC’s role shift.
According to Warren’s speculation, whether Harris or a Republican contender whoever wins the president, the SEC’s leadership will probably shift. She claimed that because of Gensler’s pervasive unpopularity, it is doubtful if he will remain SEC Chair. The SEC Chair typically changes when a new president takes office, particularly if the chair was chosen by the outgoing government.
If elected, Harris is anticipated to bring about changes in a number of areas of government, including antitrust and national security, which may include the SEC. Although Gensler’s term is legally set to expire in 2026, Warren noted that the pressure could force him to step down and become an SEC commissioner.
They also talked about Gensler’s tenure’s wider effects. His strict adherence to regulations has not only drawn criticism but also inspired more vigorous talks regarding the regulation of cryptocurrencies.
“The truth is that Gary Gensler has politicised the agency, and that is a serious issue,” she stated. Therefore, I believe it would be astonishing if Trump were to win and bring about a change in that area. In fact, I believe there would still be a shift there if Harris prevails, as the truth—which I believe the cryptocurrency community overlooks—is that Gary Gensler is unpopular with a wide range of actors in the sector, not just those in the crypto space.”
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