Perhaps the most anti-crypto official in the Biden Adminstration may emerge as the US Secretary of Treasury if Vice President Kamala Harris is elected President. This is according to multiple reports that SEC Chairman Gary Gensler is being considered for the powerful position.
BREAKING: 🇺🇸 Kamala Harris is allegedly considering SEC chairman Gary Gensler as US Treasury Secretary if she wins the election
— wallstreetbets (@wallstreetbets) August 19, 2024
Chair Gensler has long believed that all crypto, with the exception of Bitcoin, should be treated as securities. This has put him at odds with the digital asset industry.
It has long been rumored that Gensler’s many regulatory moves at the Commission were motivated by his ambition to become the Secretary of Treasury. During his reign at the Commission, Chairman Gensler has been criticized for his aggressive stance on regulation which has swamped the SEC’s capacity to create new rules. This, and his pursuit of social issues, veering from the SEC’s mandate of efficient and fair markets that foster capital formation.
Of course, rumors can be based on facts or something else. There will be a lot of posturing on both sides for plum appointments following the November elections.
OK, multiple Dems contacted me to say the “Gensler as Treasury Secretary” rumor is false. One thinks the source of the rumor is Gensler himself — (thinks he planted it just to mess with all of us…that sounds about right TBH)🤷♀️ https://t.co/nTRwq1Gafu
— Caitlin Long 🔑⚡️🟠 (@CaitlinLong_) August 19, 2024
