“Trump may bring a new direction? Wall Street heavyweight Richard Farley may take over as SEC chairman!”
According to the New York Post, well-known Wall Street lawyer Richard Farley has been included on Trump’s transition team’s list of candidates for SEC chairman, potentially succeeding Gary Gensler. Farley not only has extensive experience in the financial sector but also has a rich background in financing and financial institutions, and he has broad connections within the Republican Party; his wife, Chele Farley, previously served as the New York City Republican Party's treasurer. Once a Democrat, Farley has shifted to the Republican camp and maintains close ties with Trump supporter Robert F. Kennedy Jr., all of which significantly increases his chances of becoming SEC chairman.
The Trump team has clearly stated that they hope the future SEC chairman will adopt a more “crypto-friendly” attitude, replacing Gensler's relatively tough regulatory style, and refocusing the SEC on consumer protection while adjusting the pace of crypto market regulation. Although Farley has not publicly stated his position on crypto regulation, his Wall Street background and Republican connections may indicate a new direction for crypto policy.
In addition to Farley, other potential candidates include Chris Giancarlo, the former chairman of the Commodity Futures Trading Commission known as “CryptoDad,” and current SEC commissioner Hester Peirce, among others. Their involvement could have far-reaching impacts on the U.S. crypto market, and the industry will closely monitor this dynamic.
The future of the SEC chapter, stay tuned to Old Lin, interpreting every market key point!
