- Gary Gensler’s possible January resignation sparks speculation over pro-crypto leaders like Paul Atkins as the next SEC chair.
- Paul Atkins, a pro-crypto frontrunner, could lead the SEC toward innovation-friendly policies under Trump’s administration.
- Familiar faces like Dan Gallagher and Mark Uyeda remain key contenders, reflecting a close-knit securities law community.
Eleanor Terrett, a Fox Business reporter, reported on X that the SEC Chair Gary Gensler’s term may not last as long as anticipated. He might leave the position before President-elect Donald Trump takes office after Thanksgiving as per Bloomberg.
It has been claimed that he made the choice on his own initiative, and there are rumors that he will make his departure official in January. In the midst of continuing discussions over market supervision and crypto legislation, this change could drastically alter the SEC’s leadership.
Pro-Crypto Favorites Emerge as Top Candidates
Former SEC Commissioner Paul Atkins has gained momentum as a frontrunner to succeed Gensler. Atkins is praised for his deep understanding of the SEC, having served as commissioner under President George W. Bush and advising prior chairs.
Additionally, his pro-crypto stance and extensive knowledge of securities markets make him a strong contender. Eleanor Terrett notes that Atkins’ potential nomination reflects Trump’s push for innovation-friendly policies.
Dan Gallagher, Chief Legal Officer at Robinhood, former CFTC Chairman Heath Tarbert, and SEC Commissioner Mark Uyeda are more candidates. Gallagher, who previously dismissed interest, could reconsider given the evolving political landscape. Moreover, Brad Bondi and Bob Stebbins also remain viable options, with Stebbins reportedly having Jay Clayton’s backing.
Familiar Faces in the Mix
Interestingly, several candidates share a connection with Atkins. Brad Bondi, Mark Uyeda, Hester Peirce, and Dan Gallagher all served under Atkins during his SEC tenure. This underscores the tight-knit nature of securities law circles. While Peirce has expressed disinterest in leading the agency, Uyeda might step in as acting chair if necessary.
Besides these names, former SEC Investment Management Director Norm Champ and ex-Comptroller of the Currency Brian Brooks have also surfaced in discussions. Champ recently indicated his willingness to serve, highlighting his expertise in navigating complex financial regulations.
Implications for Crypto and Markets
The potential departure of Gensler and the appointment of a pro-crypto chair could signal a major regulatory shift. Notably, Eleanor Terrett and Charles Gasparino have emphasized Atkins’ capability to balance innovation and policy rigor.
With the SEC overseeing a $100 trillion market, the next chair’s approach will significantly impact crypto and securities regulation Announcements about the SEC leadership are expected soon as Trump’s transition team finalizes federal appointments.
Crypto News Land, also abbreviated as “CNL”, is an independent media entity – we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
