Who Could Succeed Gary Gensler as SEC Chair?

Coin Engineer - Gary Gensler was appointed as the SEC Chairman by President Joe Biden in 2021. Gensler drew attention to himself by imposing numerous sanctions on significant figures in the industry. A new SEC Chairman could lead to changes in cryptocurrency regulations and create a more favorable environment for digital assets.

Both major presidential candidates have stated that they will appoint a new name to replace Gensler if elected. Former President Donald Trump has promised to remove Gensler from office, though Gensler could be relegated to commissioner. Trump has proposed Hester Peirce as the SEC Chair. Peirce is known as “Crypto Mom” for her opposition to Gensler's regulatory approach. However, Peirce plans to leave the SEC by mid-2025.

Vice President Kamala Harris's team has begun reviewing candidates for the SEC Chair. Chris Brummer and Erica Williams are among the prominent names. Brummer is a specialist in fintech and financial innovation, while Williams focuses on balanced regulatory practices in the digital sector. Both candidates exhibit a more positive approach to cryptocurrency markets compared to Gensler.

We will see the regulatory impact of these changes on cryptocurrency markets over time.