Trump’s intent to replace SEC Chair Gensler could reshape crypto and financial regulation.
Legal uncertainties surround the president’s power to remove SEC commissioners without cause.
Fraud in traditional banking raises questions about regulatory priorities in finance sectors.
Former President Donald Trump has publicly pledged to remove current SEC Chair Gary Gensler if he wins the 2024 presidential election, promising to appoint a more crypto-friendly regulator.
This decision could shift regulatory oversight of the crypto and financial markets. However, questions about the president’s authority to remove SEC commissioners without cause have raised legal concerns.
If Trump wins, one of these things will happen:
1. @GaryGensler resigns promptly, as is the tradition when there is a change in administration.
2. Trump asks for Gensler's resignation on Day 1 and he complies.
3. Trump replaces Gensler as SEC Chairman, but allows him to…
— MetaLawMan (@MetaLawMan) October 29, 2024
Legal Hurdles in Replacing the SEC Chair
If Trump secures the presidency, Gensler faces a few possible outcomes. Typically, SEC chairs step down with a change in admi…
The post Trump Vows to Remove SEC’s Gensler, Supports Pro-Crypto Shift appeared first on Coin Edition.
