{"id":2351,"date":"2024-11-08T17:03:26","date_gmt":"2024-11-08T17:03:26","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=2351"},"modified":"2024-11-08T17:03:26","modified_gmt":"2024-11-08T17:03:26","slug":"crypto-war-resolution-heres-who-trump-might-rely-on-to-bring-peace","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=2351","title":{"rendered":"Crypto War Resolution: Here\u2019s Who Trump Might Rely On To Bring Peace"},"content":{"rendered":"
\n

As President-Elect Donald Trump prepares to assume office, the crypto industry is closely watching his administration\u2019s potential picks for key financial regulatory positions. With promises to end the \u201cwar on crypto\u201d initiated under the Biden administration, Trump is expected to overhaul leadership at the Securities and Exchange Commission (SEC) and other financial agencies.<\/p>\n

Will Dan Gallagher Lead The \u201cPeace With Crypto\u201d?<\/h2>\n

According to Reuters<\/a>, Trump\u2019s transition team is considering Dan Gallagher, a former Republican SEC commissioner from 2011 to 2015 and the current Chief Legal and Compliance Officer at Robinhood Markets Inc., as a front-runner for the SEC chair position. Gallagher is highly regarded among crypto executives who contributed millions to Trump\u2019s campaign.<\/p>\n

Also under consideration is Paul Atkins, another former Republican SEC commissioner and the CEO of Patomak Global Partners, a consultancy firm. Atkins served on Trump\u2019s transition team in 2016 and was previously a contender for the SEC chair role. Robert Stebbins, a partner at Willkie Farr & Gallagher and former SEC general counsel during Trump\u2019s first term, is also being discussed for top financial regulatory roles.<\/p>\n

\u201cPresident-Elect Trump will begin making decisions on who will serve in his second Administration soon. Those decisions will be announced when they are made,\u201d Karoline Leavitt, Trump\u2019s national press secretary, told Reuters.<\/p>\n

Meanwhile, current SEC commissioner Mark Uyeda has publicly expressed his intention to support Trump\u2019s agenda to end the regulatory crackdown on crypto. Uyeda, who has served on the commission since 2022, is likely to become the acting chair when Trump takes office in January, according to a FOX Business report<\/a>.<\/p>\n

\u201cThe Commission\u2019s war on crypto must end, including crypto enforcement actions solely based on a failure to register with no allegation of fraud or harm. President Trump and the American electorate have sent a clear message. Starting in 2025, the SEC\u2019s role is to carry out that mandate,\u201d Uyeda told FOX Business.<\/p>\n

Uyeda\u2019s stance aligns with Trump\u2019s campaign promise to halt the aggressive enforcement actions<\/a> initiated by current SEC Chair Gary Gensler. Under Gensler\u2019s leadership, the SEC has brought over a hundred enforcement actions against firms in the past three years, targeting both fraudulent activities and unregistered securities offerings.<\/p>\n

While some cases involved clear instances of fraud and money laundering\u2014such as the charges against Sam Bankman-Fried, founder of the now-bankrupt exchange FTX\u2014others have targeted established firms like Coinbase, Ripple<\/a>, Kraken, ConsenSys<\/a>, and Cumberland DRW for allegedly selling unregistered securities.<\/p>\n

Gensler has maintained<\/a> that all tokens, except Bitcoin, are securities falling under the SEC\u2019s jurisdiction\u2014a position that has faced significant opposition from the industry, legal experts, and members of Congress. With his term set to end in 2026, Gensler has indicated he will step down when the new administration takes over.<\/p>\n

Hester Peirce, another Republican SEC Commissioner known for her pro-crypto views and dubbed \u201cCrypto Mom,\u201d was initially seen as a strong candidate for the SEC chair. However, sources indicate that she is not interested in the role. Instead, Peirce is reportedly keen on leading an internal \u201ccrypto task force\u201d aimed at re-evaluating the SEC\u2019s approach to digital assets and fostering open dialogue with industry stakeholders.<\/p>\n

Peirce has been a vocal advocate for \u201csafe harbor\u201d provisions that would allow crypto companies to operate under regulatory oversight without the immediate threat of enforcement actions. A staffer for Peirce declined to comment on her intentions.<\/p>\n

Uyeda has also criticized the SEC\u2019s current approach to crypto regulation, describing it as a \u201cdisaster for the whole industry\u201d during an appearance on FOX Business. \u201cWe have been sending this \u2018policy through enforcement,\u2019 we\u2019ve done nothing to provide guidance on it,\u201d he said.<\/p>\n

At press time, the total crypto market cap stood at $2,512 trillion.<\/p>\n

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As President-Elect Donald Trump prepares to assume office, the crypto industry is closely watching his administration\u2019s potential picks for key financial regulatory positions. With promises to end the \u201cwar on crypto\u201d initiated under the Biden administration, Trump is expected to overhaul leadership at the Securities and Exchange Commission (SEC) and other financial agencies. Will Dan […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-2351","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/2351","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2351"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/2351\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}