ChainCatcher reported that Tonya Evans, a professor at Pennsylvania State University Dickinson School of Law, pointed out that Trump declared at the Bitcoin 2024 conference that if elected president, he would fire Gary Gensler, chairman of the U.S. Securities and Exchange Commission, on the first day and push the federal government to hold Bitcoin. However, the promise to fire Gensler faces many obstacles.
It is reported that the dismissal procedure is very complicated. Trump must prove that Gary Gensler has committed inefficiency, dereliction of duty or malfeasance before he can initiate the dismissal procedure.
Although some politicians and crypto industry representatives believe that Gensler's performance is poor and that there is reason to fire him, the whole process may take months, even longer than Gary Gensler's five-year term. Therefore, unless Gary Gensler resigns on the first day, his departure will not be realized quickly.