The outcome of the US presidential election could see a new chairman at the SEC, as traditionally the chair resigns when a new president takes office. If Kamala Harris wins, there are reports that her campaign supporters are pushing for her to replace current chairman Gary Gensler. However, Harris has been cautious on key issues such as taxation, Bitcoin mining, and self-custody, and is not as pro-crypto as Donald Trump.
Trump has promised to “fire” Gensler on his first day in office, should he win, which has the crypto industry anticipating his regulatory policies. The Republican Party has always emphasized individual freedom, which is more consistent with the principle of decentralization of cryptocurrency, and Trump has shown strong interest in the digital asset industry, proposing a series of encryption policies.
It is unclear how Trump’s policies will impact the market and crypto industry in the long term. Kamala Harris has limited her stance on cryptocurrency policy, and her selection of advisers who are not friendly to cryptocurrencies may disappoint the crypto community if she wins the election.
