Coindesk: Gary Gensler to Exit SEC After Presidential Election! 🔥

Gensler might aim to serve his full term until January 5, 2026, but tradition shows most SEC chairs step down early following a presidential transition. 📝

👀 Harris is rumored to have her own candidate for the role, while the crypto community expects Trump to oust Gensler swiftly if elected.

Therefore, Gary's days in office are numbered, writes the leading crypto media. 🤷

#GaryGensler #SEC #TrumpCoin

With Trump back, #SEC Chair #GaryGensler may soon exit, says analyst Markus Thielen. It’s tradition for SEC heads to step aside with a new president, and Trump’s promised to end the “anti-crypto crusade” on day one. Could a friendlier SEC be on the horizon?

And here’s the twist: Justin Sun joked he’d be happy to hire Gensler—if he promises to play nice with crypto. "As an industry, we should have an inclusive heart," Sun said. Now that's a plot twist! 😁
#trump #TrumpWon #ElectionResults

🔥 Professor Malekan warns: a Trump win could throw the beloved memecoin market into regulatory sanity 🤯 Memecoins, born as a rebellion against the #SEC ’s strict ways, might face turbulence under #trump ’s watch. Imagine, memecoins getting too serious! 😱

📊 Nic Carter jumps in, saying memecoins exist because of the SEC’s strict approach. But Trump’s crypto fans insist he’d make America the “crypto capital” 🏛 – even Murad Mahmudov argues people buy memecoins for the wild price swings, not politics.

🤔 Will #memecoin⁠⁠⁠⁠ survive Trump’s “sanity,” or are we in for the Great Meme Migration?

Galaxy CEO Mike Novogratz has recently voiced his support for Commissioner Hester Peirce as a potential candidate to lead the U.S. Securities and Exchange Commission (SEC) should Donald Trump secure another term as President. Novogratz’s endorsement highlights Peirce’s critical viewpoint of current SEC Chair Gary Gensler’s tactics, which have often involved legal actions against cryptocurrency firms instead of establishing clear regulatory policies.
Hester Peirce, known by many in the crypto world as “Crypto Mom” due to her favorable stance towards digital currencies, has been a strong advocate for developing a transparent regulatory framework for the crypto industry. Her candidacy for the top role at the SEC is bolstered by her position as the most vocal Republican commissioner under Gensler’s administration. Novogratz, during a discussion on CNBC, expressed his belief that Peirce’s leadership could herald a significant shift in regulatory approach, potentially favoring the crypto sector.
The prospect of Peirce assuming the SEC Chair position comes at a time when many in the crypto community anticipate changes in regulation. Known for her criticism of Gensler’s stringent enforcement measures, Peirce has consistently pushed for more regulatory clarity and certainty in the crypto space. Her approach starkly contrasts with Gensler’s, who has been criticized for being overly aggressive in his enforcement actions, creating friction within the industry.
Rumors are circulating about Gary Gensler’s possible resignation in the near future, making Peirce’s potential appointment a beacon of hope for many in the cryptocurrency industry. Players like Novogratz are optimistic that with Peirce at the helm, the SEC might adopt a more supportive stance towards innovation in digital assets, rather than hindering its growth. This shift could pave the way for a regulatory environment that encourages technological advancement.
In a somewhat bold political promise, Donald Trump, during the bitcoin Nashville conference in July, vowed to dismiss Gensler if re-elected, stating that Gensler would be out of office “on Day one.” However, removing an SEC Chairman is not straightforward and would require legal justification, such as allegations of negligence or incompetence. The process, involving substantial legal scrutiny, could potentially take over a year to materialize.
Peirce’s extensive background in financial market regulation gives her a strong foundation for potentially leading the SEC. With experience as a researcher at George Mason University and advisory roles to the Senate Committee on Banking, Housing, and Urban Affairs, along with her tenure as an attorney with the SEC, Peirce brings a wealth of knowledge to the table. Appointed by former President Obama, she has served as an SEC commissioner since 2018.
Despite her popularity and support within the crypto industry, Peirce has indicated plans to leave the commission at the end of her term. This makes her appointment to SEC Chair somewhat speculative. However, many in the industry remain hopeful that her influence could still be felt in shaping future regulatory policies.
The potential regulatory shift comes amidst political changes that Novogratz believes could lead to a more crypto-friendly Congress. He emphasizes that recent electoral successes have placed pro-crypto lawmakers in influential positions, which could foster policies supportive of blockchain and digital currencies. Novogratz envisions a scenario where an open-minded leadership at the SEC, possibly led by Peirce, could stimulate institutional investment in digital assets, thereby introducing substantial liquidity and innovation to the market.
The crypto sector has faced significant regulatory challenges in recent times, but Novogratz remains optimistic about the industry’s future. He forecasts considerable changes over the next few years that could spur growth in the sector, driven in part by new appointments at regulatory bodies like the SEC, Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC). This anticipated regulatory overhaul, he suggests, could unlock billions in market value and provide much-needed clarity and confidence for investors and innovators in the crypto space.
As the regulatory landscape begins to shift, the industry is hopeful for a more stable and supportive environment. Novogratz continues to see a bright future for cryptocurrencies, with the expectation that new leadership at the SEC will remove existing uncertainties, encouraging further development and adoption of digital assets across the globe.

#BTC #SEC

Ripple CEO Brad Garlinghouse says it's "inevitable" that $XRP will be offered through an exchange-traded fund (ETF)! 🌐💰

After Bitcoin ETFs took off, pulling in a massive $17 billion since January, Brad points out that demand for crypto from institutions and retail is undeniable. With Bitwise and Canary Capital already filing for XRP ETFs, it seems like XRP might follow Bitcoin's ETF path soon! 👀

Despite #ripple 's ongoing legal battle with the #SEC , Garlinghouse is confident that ETFs will push XRP’s value upwards, just like we've seen with other cryptos. Is XRP next in line for a major pump? ⬆️📈

Cathie Wood, the founder and CEO of ARK Invest, believes that a shift in leadership at the U.S. Securities and Exchange Commission (SEC) could ignite a wave of innovation and investment in emerging technologies, significantly boosting the U.S. economy. In a recent video shared by ARK Invest on X (formerly Twitter) on November 11, Wood emphasized that the changing regulatory environment, following the recent U.S. elections, could unleash a new era of economic prosperity.

Regulatory Changes Could Turbocharge the Economy

Wood argued that a series of policy shifts, including deregulation and a potential overhaul of agencies like the SEC and the Federal Trade Commission (FTC), along with tax cuts, government spending reductions, and a focus on technology-driven innovation, would be key drivers of U.S. economic growth. She stated, “Deregulation, defanging the SEC, FTC, and others, government spending cuts, tax cuts, and a focus on technologically enabled innovation are likely to turbocharge the US economy.”

Reflecting on the post-election landscape, Wood said, “We have more clarity now in terms of the investment landscape after the election,” suggesting that the political climate is now more favorable for transformative technological advancements.

SEC Reform and the Future of Digital Assets

Wood specifically criticized the SEC under its current leadership, calling it a “menace to the digital assets movement.” She argued that SEC Chair Gary Gensler’s aggressive stance on crypto regulation had driven talent and innovation out of the U.S. “A lot of talent has been lost to other countries because of the SEC’s actions,” she remarked. However, Wood is optimistic about the upcoming regulatory changes, noting that a shift in leadership is expected, particularly at the SEC and the FTC.

She pointed out that President-elect Donald Trump has shown strong support for Bitcoin and digital assets, which Wood believes will pave the way for significant advancements in the crypto and decentralized finance (DeFi) sectors. “We know that is going to change,” she said, adding that Trump’s administration will likely embrace Bitcoin and other digital innovations. “Bitcoin is very much a part of this administration’s plans, including building a strategic reserve, and we’re very excited about that.”

Productivity Growth and Innovation in Emerging Technologies

Wood also forecasted an “explosion in productivity growth” driven by key technological sectors, including robotics, energy storage, artificial intelligence (AI), and blockchain. She believes these technologies are converging, and their combined impact will result in substantial GDP growth. Wood emphasized that innovation is poised to thrive in this new environment, with the most promising opportunities lying in autonomous mobility, healthcare, and digital assets.

Drawing parallels to previous periods of rapid economic growth, Wood noted that the 1980s and 1990s were considered “the golden age” of active equity investing. She believes that with the implementation of Trump’s proposed policies — such as tax cuts and lower interest rates — the U.S. is poised to return to a similar era of economic growth and investment opportunities.

Venture Capital Giants Echo Optimism

Wood’s optimism is shared by other major players in the investment world. On November 10, venture capital firm Andreessen Horowitz (a16z) expressed its confidence that the U.S. regulatory environment is set to improve. In a statement, a16z’s crypto legal and policy experts — Miles Jennings, Michele Korver, and Brian Quintenz — said, “We’re very optimistic that the government will now foster innovation, accelerate progress, and enable the crypto ecosystem to thrive in the US.”

Conclusion

Cathie Wood’s comments highlight a growing sentiment that the U.S. is on the cusp of a new wave of economic growth, driven by regulatory reform and a renewed focus on technology and innovation. With the potential for a friendlier regulatory environment under the upcoming administration, sectors like cryptocurrency, AI, and blockchain could see significant advancements, positioning the U.S. for a period of heightened productivity and economic prosperity.

The post Cathie Wood Advocates for SEC Overhaul to Boost US Economy appeared first on Koinreport.

Previously, the congressman introduced a bill allowing Americans to pay federal taxes in BTC, advocated for the deregulation of the crypto industry, and opposed #SEC actions. 👊
#MattGaetz

Trump recently met with Coinbase CEO to discuss appointing a new #SEC chair—potentially a big shakeup for U.S. crypto regulation. 🚨

Additionally, reports suggest Trump's company is in talks to acquire Bakkt, a platform for Bitcoin futures and digital assets, founded by the parent company of the NYSE. 👀

Stay tuned as Trump’s crypto moves could make waves in the industry! 🚀
#ElectionEffect #TrumpWon