As a seasoned crypto investor with a knack for deciphering political winds and their impact on the digital currency landscape, I find myself buoyed by the recent US elections. The victory of President Donald Trump, who has shown a keen interest in reshaping the regulatory environment for cryptocurrencies, brings a sense of relief and optimism.
After the conclusion of the U.S. Presidential and Congressional elections, Brad Garlinghouse, CEO of Ripple, has criticized Gary Gensler in his post-election analysis. As per Garlinghouse, it’s important to hold the Chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, accountable for his ongoing battle against cryptocurrencies.
Gary Gensler, Crypto Agenda and Donald Trump
Over the last two terms of the U.S. Securities and Exchange Commission (SEC), the wider cryptocurrency sector has experienced considerable regulatory pressure. Notably, the regulatory approach advocated by Gary Gensler, a key figure in this election, has been a contentious topic among industry leaders.
This year has seen numerous lawsuits, settlements, and Wells Notices directed at cryptocurrency companies, leading to a simmering frustration within the industry. As the election approached, Donald Trump stepped into the fray, pledging to reform the industry’s regulatory issues. This approach resonated with voters, especially considering the additional Wells Notices sent to OpenSea, Robinhood, Uniswap, and other companies.
All this culminated into the visible crypto voter showing in the election. In Massachussets for instance, John Deaton had about 100,000 more votes from non-Trump supporters as revealed by lawyer MetaLawMan. In his Campaign for the Senate seat, Deaton had a very bullish pro-crypto stance. Notably, the Ripple CEO said overall, the Democrats need to hold Gary Gensler accountable for ignoring the law.
Evidence that the crypto voting community is active and thriving can be found in these statistics… (or) Data clearly shows that the crypto voting scene is vibrant and lively…
I hope the Dems find a way to hold @GaryGensler accountable for ignoring the law.
— Brad Garlinghouse (@bgarlinghouse) November 7, 2024
Future of the US SEC Under Trump
The triumph of Donald Trump is being enthusiastically welcomed by figures in the cryptocurrency sphere, as they anticipate a more favorable regulatory environment for crypto in general.
As the election approaches, Trump had pledged to dismiss Gensler on his inaugural day. There’s a growing belief that the head of our regulatory body might step down before this occurs. Currently, there’s an increasing buzz about who could potentially succeed the Chair of the U.S. Securities and Exchange Commission (SEC).
SEC Commissioners Hester Peirce, Mark Uyeda, and Robinhood’s Chief Legal Officer Dan Gallagher are strong contenders for the position that Gary Gensler is expected to vacate.
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2024-11-07 20:39