Gary Gensler is very close to his departure date from the United States Securities regulatory body SEC and now crypto enthusiasts, including some SEC officials, believe new leadership will take ProCrypto approach to regulate this innovative space.
Gary Gensler is the current chairman of the United States Securities and Exchange Commission (SEC). Gensler is known for his crypto-hater stance against Crypto sector. Under his leadership, the SEC body not only took enforcement action against bad crypto players but also good players who were following all the possible traditional rules & laws. In Nov of this year, Gensler confirmed that he will resign from the SEC chairman role on 20 Jan 2025.
https://t.co/8QQ2IygBbs#Crypto Hater #SEC Chair Gary #Gensler Indirectly Confirms His Resignation
— Bitcoinik (@Bitcoinikdotcom) November 15, 2024
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President-elect Donald Trump also announced his plan to nominate Paul Atkins as the next Chair of the SEC body. Atkins is a former SEC commissioner & he is also known for his ProCrypto stance.
Crypto enthusiasts believe Atkins will reduce the regulatory burdens & promote crypto innovation, on behalf of his past tenure at the SEC agency.
Many experts noted that even if Atkins would follow a neutral stance toward the crypto sector, then in that situation, Current proCrypto Republican commissioners Hester Peirce and Mark Uyeda will play a vital role in pushing crypto ProCrypto laws rules.
Recently speaking at the Blockchain Association Policy Summit, SEC commissioner Peirce asserted that the security regulatory body has multiple law tools at its disposal, though enforcement has often been the go-to method for regulating crypto. She stated that the addition of new commissioners would change the stance of the regulatory body for this innovative space.
Another ProCrypto SEC commissioner, Uyeda, stated that the crypto sector needs transparency regarding regulatory rules & laws, hinting at a new discussion on this matter privately among the US government authorities.
Uyeda also talked about the importance of the Administrative Procedure Act, which allows the public to share feedback on new regulations and ensures accountability.
Both the SEC commissioners talked mainly about the focus of public engagement in policy-making regarding the crypto sector.
Read also: Japan rejects “Strategic Bitcoin Reserve” proposal but hints adoption in future
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