The US Presidential and Congressional elections are over and Ripple CEO Brad Garlinghouse has called out Gary Gensler, claiming that the war on crypto by the US Securities and Exchange Commission (SEC) Chairman needs to be held accountable. Gensler’s regulatory enforcement strategies have faced criticism in the industry, including lawsuits, settlements, and Wells Notices sent to crypto firms.
The industry has experienced significant regulatory strain during Gensler’s administration. In the election, Donald Trump took a strong stance on crypto regulation, promising to overhaul the industry’s enforcement woes. This strategy worked well, and many crypto leaders are now celebrating Trump’s victory, as they believe there will be improved regulations for the industry.
Industry experts project that Gensler may resign from his position or be fired. Potential replacements for the US SEC Chairman include SEC Commissioners Hester Peirce and Mark Uyeda, and Robinhood CLO Dan Gallagher. The crypto community has shown its presence in the recent elections, with candidates and campaigns focusing on crypto regulation issues.
Overall, the industry looks forward to a more favorable regulatory environment under the leadership of President Trump.
