How would you feel if you found out that the SEC (Securities and Exchange Commission) chairman, who has always been critical of the cryptocurrencies in your wallet, suddenly changed, and it was a "legal expert" from Robinhood? Wouldn't you feel both surprised and expectant?
Indeed, according to a Reuters report on November 7, Trump's transition team is diligently selecting a new batch of leaders, and among the popular candidates for SEC chairman, there is indeed a Chief Legal Officer from Robinhood! Once this news broke, the entire crypto community was in an uproar.
In addition to this "legal expert" from Robinhood, former SEC Commissioner Dan Gallagher and former SEC Commissioner, now leader of consulting firm Patomak Global Partners, Paul Atkins are also popular candidates. Especially Gallagher, who is not only a favorite among crypto asset executives but also made significant contributions to Trump's campaign. If he really gets elected, will the SEC's stance make a 180-degree turn, completely breaking away from the "iron-fisted" policies of current Chairman Gary Gensler?
Of course, things are not yet settled, discussions are ongoing, and there are still many choices. For example, Robert Stebbins, a partner at Willkie Farr & Gallagher, is also one of the candidates. He previously served as the SEC's General Counsel in Trump's last government and is well-acquainted with the SEC's operations.
Even though the current SEC Chairman Gensler's term doesn't end until 2026, he has already expressed his intention to step down after the new government takes office. This gives Trump's team an excellent opportunity for a "big reshuffle" to completely change the SEC's regulatory approach.
Speaking of this, we must mention Trump's attitude towards the "burdensome" regulatory provisions. He has clearly stated his intention to eliminate these regulations, with the focus of reform possibly being the recently drafted Basel rules, which require an increase in capital requirements for large banks. Coupled with other regulatory measures established by the Biden administration, if Trump takes office, it could truly be a "regulatory revolution"!
It is worth mentioning that Trump's campaign has received strong support from the crypto asset interest group. They have promised to promote BTC and completely reform the SEC's regulatory approach. This raises the question: if Trump really gets elected, will the relationship between the SEC and the crypto world welcome a new spring?
Now, the entire crypto community is holding its breath to see how Trump will choose. Will he continue with the "iron-fisted" policies, or will there be a "big relaxation"? Will he continue to suppress cryptocurrencies or promote them vigorously? All of this will be revealed in the near future.
So, fellow crypto enthusiasts, are you ready to welcome this "regulatory storm"? Let's wait and see what changes Trump will bring to the SEC and the crypto world!
For more news updates, price analysis, and predictions, as well as SWAP cross-chain exchanges, please visit: 🤖👉 visit mlion.ai
The above content is for informational sharing only and does not constitute any investment advice! Investing involves risks, and caution is required when entering the market!
Follow me for daily updates on market news.
