Future

Donald Trump

Chair

Trump or Kamala

Gary

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/speculations-surround-gary-genslers-future-as-sec-chairman/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Speculations Surround Gary Gensler’s Future as SEC Chairman</a> 
The future of <a href="https://en.coin-turk.com/seizing-opportunities-amidst-crypto-market-volatility-the-art-of-catching-the-dip/" data-wpel-link="internal" rel="noopener noreferrer nofollow">SEC</a> Chairman Gary Gensler has become a topic of discussion following the potential change in U.S. administration. Speculations arise regarding whether Donald Trump or Kamala Harris could alter the leadership at the SEC. However, <a href="https://en.coin-turk.com/is-the-rise-of-cryptocurrencies-in-sight/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto</a> attorney Dave Michaels highlights legal nuances that may prevent Gensler’s immediate removal from office.
<h2 id="possible-limitations-on-removal-authority">Possible Limitations on Removal Authority</h2>
Michaels addressed the question of whether a change in presidency would allow for Gensler’s dismissal on social media. He referenced the 1935 Supreme Court case, Humphrey’s Executor v. United States, which prevents the removal of independent agency heads like FTC commissioners solely based on executive preference. Though this ruling directly pertains to the FTC, it is believed that the SEC’s similar independent structure and regulatory oversight functions can be interpreted in the same manner.
This precedent suggests that removing leaders of independent agencies, like Gary Gensler, without cause is challenging. This protection aims to shield agency heads from political influences and changes in administration.
<h2 id="will-cryptocurrency-regulations-ease">Will Cryptocurrency Regulations Ease?</h2>
A change in the SEC Chair could impact the regulatory approach toward cryptocurrencies. Under Gensler’s leadership, compliance costs for crypto firms reportedly exceeded $400 million, and the SEC faced criticism for its aggressive oversight actions in the sector.
Notably, former SEC official Marc Fagel criticized the SEC’s abrupt Wells Notice decision regarding the Ethereum -based gaming company Immutable, labeling the agency’s sudden approach as “risky” and emphasizing the need for comprehensive communication before such notifications.
The crypto community anticipates that Trump might appoint Dan Gallagher, Robinhood’s CLO, as SEC chair, potentially reshaping the SEC’s approach to digital assets. There is hope for clearer regulatory guidelines and innovative advancements within the crypto sector under new leadership.
If Gensler does not resign, Trump will have limited options to remove the SEC Chairman. He may need to redistribute responsibilities within the SEC to pressure Gensler into resigning. Importantly, Trump must first secure victory in the elections.
These potential changes within the SEC Chair position could significantly impact the future of <a href="https://en.coin-turk.com/bitcoin-price-fluctuates-a-deep-dive-into-its-volatility-and-prospects/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> markets and the regulatory landscape. Trump has indicated that if he wins the elections, one of his first acts would be to dismiss Gensler.
The post <a href="https://en.coin-turk.com/speculations-surround-gary-genslers-future-as-sec-chairman/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Speculations Surround Gary Gensler’s Future as SEC Chairman</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Speculations Surround Gary Gensler’s Future as SEC Chairman

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