Trump Vows to Fire SEC Chairman Gensler if Elected

IconCryptoNewsTerminal Staff27 Jul, 2024

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Trump Vows to Fire SEC Chairman Gensler if Elected

Former President Donald Trump has pledged to fire current Securities and Exchange Commission (SEC) Chairman Gary Gensler if elected president. Trump made the announcement during his keynote address at the Bitcoin 2024 Conference in Nashville, Tennessee. Trump criticized Gensler's leadership of the SEC, accusing him of being hostile to the cryptocurrency industry and stifling innovation. He promised to replace Gensler with someone who "understands the importance of protecting investors while fostering the growth of new technologies." Gensler has been a vocal critic of cryptocurrency, often warning investors about the risks involved. He has also taken enforcement actions against several crypto companies for allegedly violating securities laws. Trump's pledge to fire Gensler is likely to appeal to his supporters, many of whom are enthusiastic about cryptocurrency. It remains to be seen whether Trump will be successful in his bid to become president again. However, his comments highlight the growing political divide over the regulation of cryptocurrency.

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