Donald Trump's transition team is currently exploring a list of candidates that could replace current Securities and Exchange Commission (SEC) chairman Gary Gensler.
Donald Trump's transition team is currently exploring a list of candidates that could replace current Securities and Exchange Commission (SEC) chairman Gary Gensler amidst what could be a radical shift in digital asset rulemaking.
This list of potential replacements, which includes current and former regulators who have reputations for crypto-friendly positions, is being closely monitored by the market. Frontrunners include Hester Peirce—a regulator tagged "Crypto Mom" many times because of her supportive position on digital assets—along with Mark Uyeda, both of whom have publicly criticized the current administration's approach to the regulation of cryptocurrencies.
This new guard has already begun to ripple through the digital asset markets. Bitcoin has set new records for four days in a row, recently touching $89,000, and Bitcoin ETFs recorded record inflows of $1.39 billion immediately following the election results.
Also being considered is Paul Atkins, a former SEC commissioner who advised during Trump's first transition, and Chris Giancarlo, who formerly chaired the CFTC. Both candidates have been vocal in their support for friendlier cryptocurrency policies in the past.
All candidates are a far cry from the recent SEC, which has undertaken an aggressive policy of large-scale legal actions against major crypto platforms like Binance and Coinbase.
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