Cryptocurrency markets welcomed Gary Gensler with great excitement when he took office. He understood this business. Known for his perspective on crypto from his Bitcoin and blockchain courses at MIT, Gensler turned into a monster after taking office. Cryptocurrency investors now hate him.
Gensler and Cryptocurrencies
Trump said he would immediately fire Gensler if elected. Does he have such authority? Of course, he does. Kamala Harris, however, is considering making Gensler the Treasury Secretary, even at the risk of drawing the ire of cryptocurrency investors. The good news is that no matter who is elected, Gary will leave the SEC Chair position. However, if Harris is elected, he will take a bigger seat. This would be disappointing for expectations regarding crypto regulations.
Many senior Senate officials speaking to the Washington Reporter said Vice President Kamala Harris plans to nominate Gensler as Treasury Secretary if she wins in November. This statement by senior officials could be disappointing for Harris’s team, which hinted at a fresh start regarding cryptocurrencies.
