Will Kamala Harris Fire SEC Chair Gary Gensler if Elected?

As the 2024 election approaches, there is speculation on how the Democrats will navigate the complex landscape of crypto regulation, especially with Gensler’s future at the SEC uncertain. Some believe that a change in administration, particularly a Republican one, might be more favorable for the crypto industry. 

In an interview with The Paul Barron Network, New York Times bestselling author and veteran financial journalist Charles Gasparino said that  Senator Elizabeth Warren holds significant influence within the Democratic Party, especially concerning economic appointments in the Biden administration. 

Warren is said to have a near-veto power over key economic roles, including her alleged role in appointing Gary Gensler as the head of the Securities and Exchange Commission (SEC), a figure known for his strong stance against cryptocurrency.

The conversation centered on whether Democrats might push for Gensler to step down or reassign him, especially considering Vice President Kamala Harris’s relationship with Warren. The question was posed whether Harris might advocate for new leadership at the SEC. 

Charles said, “I don’t think she has any ideological bearing. So if you told me that you would throw Gary Gensler overboard, I’d be like, ‘Yeah, why not?’ And is Harris really gonna diss Elizabeth Warren? I mean, she needs Elizabeth Warren right now.”

Trump’s Recent Statement About Gary Gensler:

At the Bitcoin 2024 conference in Nashville on July 27, Republican presidential nominee Donald Trump promised significant changes to U.S. crypto policies if he wins the 2024 election. Speaking to a crowd of Bitcoin enthusiasts, Trump outlined his plan to immediately remove SEC Chair Gary Gensler and establish a “Bitcoin and crypto presidential council” on his first day in office. He criticized the current administration’s stance on cryptocurrency, vowing to end what he called an “anti-crypto crusade” by Joe Biden and Kamala Harris. 

He said, “The moment I’m sworn in, the persecution stops and the weaponization ends against your industry. I will appoint a new #sec chairman who believes that America should build the future, not block the future.”