Rumors are rising in Washington that Vice President Kamala Harris might nominate SEC Chairman Gary Gensler to be Treasury Secretary if she wins the November polls.
These rumors corroborate what high Republicans additionally documented to The Washington Reporter report August nineteenth.
Minnesota Rep. Tom Emmer beforehand warned in interviews that Harris might select Gensler or, even worse, Sen. Elizabeth Warren as Treasury Secretary.
He stated the transfer “could be a catastrophe for the financial system”.
‘Litigation is in every single place’ – Rep. Emmer on what life will likely be like below Treasury Secretary Gensler. He additionally thinks Warren might be drafted, too. Seems like he is the supply of the rumor…through Washington reporter https://t.co/vUvhFzkKo2 pic.twitter.com/nTL0GeviAc
— Eric Balchunas (@EricBalchunas) August 19, 2024
Anti-Cryptocurrency Finance Minister
this Anti-CBDC The professional-crypto congressman stated Gensler “has been suing in every single place and shedding in every single place,” earlier than including:
“That point has handed. Gary Gensler wants to maneuver on. His time in authorities needs to be over.
The report added that if Harris defeats Trump, senior Republican Senate workers anticipate “Republican unity to oppose” Gensler, however he’ll doubtless have the ability to win broad assist from Democrats.
The political rumors do not cease there. There are additionally claims that Gensler might resign as SEC chairman. This can permit the Biden administration to appoint a brand new chairman earlier than the November election.
One attainable alternative is SEC Commissioner Caroline Crenshaw, who can be pro-banking and anti-cryptocurrency.
In January, she voted towards Spot Bitcoin ETFclaimed that the underlying market was “harmed by fraud and manipulation” and argued that “there may be ample proof that many criminals use Bitcoin to evade U.S. monetary sanctions.”
The Finish of the Cryptocurrency Period in America?
On August 20, Ethereum advocate Ryan Sean Adams and Bankless founder printed an article on X explain:
“If that is true, this can primarily finish cryptocurrencies in the US and we’d higher flee the nation now.”
He added that as a result of Kamala Harris had not disclosed that she wouldn’t nominate Gensler, “we will not utterly rule it out.”
“There have been numerous alternatives to increase an olive department to the crypto area…however they provided nothing.”
Democratic Nationwide Committee publish The 2024 occasion platform launched on Sunday — a doc detailing the Democratic Get together’s future political priorities within the subsequent election — didn’t point out cryptocurrencies as soon as.
Caitlin Lengthy, founding father of crypto financial institution Custodia, explain A number of Democrats contacted her to say rumors that Gensler would function Treasury secretary had been false.
“Some folks suppose the supply of the rumor is Gensler himself – (pondering he made it up simply to upset us all…that sounds good, to be sincere),” she added.
Donald Trump:
– I might fireplace Gary Gensler on day oneKamala Harris:
I’ll appoint Gary Gensler as Treasury SecretaryRobust alternative…🤔 pic.twitter.com/I0g7o4QBaP
— Bitcoin Archive (@BTC_Archive) August 19, 2024
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