Catenaa, Thursday, November 28, 2024 (Wrapup)- President-elect Donald Trump is reportedly considering several candidates to replace Gary Gensler as chair of the US Securities and Exchange Commission (SEC).
Among the frontrunners are Richard Farley, a partner at Kramer Levin Naftalis & Frankel, and Norm Champ, a partner at Kirkland & Ellis.
Other potential candidates include Robinhood Markets’ legal chief Dan Gallagher, current SEC Commissioner Mark Uyeda, former Commodity Futures Trading Commission (CFTC) Chairman Heath Tarbert, Paul Atkins, a former SEC Commissioner, and Brian Brooks, former Acting Comptroller of the Currency.
Trump’s move comes after criticism of Gensler’s tough stance on cryptocurrency markets, with many in the industry pushing for less stringent regulation.
The new SEC leadership is expected to adopt a more crypto-friendly approach, aligning with Trump’s broader agenda to foster innovation in the digital asset sector.
Industry leaders are watching the appointments closely, as the SEC’s new direction could have significant implications for US cryptocurrency policy.
Trump’s team is looking for a chair who can balance traditional market oversight with the growing influence of digital assets, potentially reshaping the regulatory landscape as cryptocurrencies gain prominence globally.
This potential shift in leadership highlights the growing debate over how best to regulate digital assets while promoting innovation.
Trump’s picks suggest a shift toward a regulatory environment more conducive to cryptocurrency growth, signaling a potential end to the SEC’s strict enforcement under Gensler’s tenure.
