Donald Trump plans to appoint cryptocurrency supporters to key positions in US financial departments, including the Securities and Exchange Commission (SEC). The Washington Post writes about this citing five well-informed sources.
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According to them, advisors to the future president of the United States are discussing possible changes in federal policy with the heads of cryptocurrency companies. For key positions in finance, they are considering representatives of regulators, former officials and top managers who openly supported cryptocurrencies, writes WP.
According to the newspaper, former commission member Daniel Gallagher, who now works for Robinhood, a company that offers cryptocurrency wallets and stock trading services, could become SEC chairman. Previously, he accused the SEC leadership of regulating the cryptocurrency market too strictly.
Other candidates include SEC Commissioners Hester Pierce and Mark Uyeda, former Commissioner Paul Atkins, and former Commodity Futures Trading Commission (CFTC) Commissioner Chris Giancarlo.
Trump promised to fire current SEC Chairman Gary Gensler, known for his negative attitude toward cryptocurrencies. Under Gensler, the SEC aggressively regulated crypto companies, charging FTX creator Sam Bankman-Fried with fraud, filing charges against Binance, and engaging in litigation with crypto exchanges Coinbase, Kraken, and Ripple, which issued the XRP token. .
However, it is still unclear whether Trump will be able to fire Gensler or whether he will have to demote him to commissioner. WP sources noted that the removal of the SEC chairman could trigger a “tough battle” over the president’s powers.
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Previously, Trump has repeatedly spoken positively about cryptocurrencies. On his social network Truth Social, he said that he has a “very positive” attitude towards cryptocurrency companies and that the United States should become a leader in this area. In July, the politician spoke at the Bitcoin Conference in Nashville, promising to make the United States “the crypto capital of the planet and the Bitcoin superpower of the world.”
After Trump won the US presidential election, Bitcoin began to skyrocket, reaching a record high of $89,995.
Author:
Daria Vasilyeva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
