Trump’s SEC Chair Pick Expected Amid Crypto Regulation Shakeup

Though Gensler’s should officially resignate in January 2025, rumors suggest he might step down sooner. Trump’s push to reshape cryptocurrency regulations has intensified speculation about this leadership shift.

Leading contenders for the role include Paul Atkins, a former SEC commissioner known for supporting deregulation. Current SEC commissioners Hester Peirce and Mark Uyeda are also in the running. Both have criticized Gensler’s strict enforcement approach to cryptocurrency regulation, calling for clearer rules and better collaboration with the industry.

Mark Uyeda has highlighted the need for balanced rules that encourage innovation while protecting investors. Any of these candidates might lead the SEC toward a more crypto-friendly direction. This will then align with Trump’s view on financial reforms.

Gensler’s reign has been characterized by heavy-handed attacks on crypto companies. That’s a factor that has drawn sharp criticism from the industry for perpetuating uncertainty. Adding some humor to the drama, Tron founder Justin Sun playfully offered Gensler a job in blockchain.

Trump’s nominee to head the SEC is part of his broader effort to rewrite U.S. financial regulations. His campaign promises included firing Gensler and creating rules that support digital asset innovation, aiming to position the US as a global crypto leader.