Yigit Taha OZTURK 
Gary Gensler was appointed as SEC Chairman by President Joe Biden in 2021. Gensler has drawn attention by enforcing numerous sanctions on major industry players. A new SEC Chairman could lead to changes in cryptocurrency regulations and create a more favorable environment for digital assets.
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Both major presidential candidates have indicated that they would appoint a new person to replace Gensler if elected. Former President Donald Trump has pledged to remove Gensler, although Gensler could still remain as a commissioner. Trump has proposed nominating Hester Peirce as SEC Chair. Peirce, known as “Crypto Mom,” opposes Gensler’s regulatory approach. However, Peirce plans to leave the SEC in mid-2025.
Vice President Kamala Harris’s team has begun reviewing candidates for the SEC Chair position. Chris Brummer and Erica Williams are among the prominent names. Brummer specializes in fintech and financial innovation, while Williams focuses on balanced regulatory practices in the digital sector. Both candidates have a more favorable approach to cryptocurrency markets than Gensler.
We will see the regulatory impact of these changes on cryptocurrency markets over time.
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