CandleFocus Senator Lummis predicts SEC Chair Gensler will step down next year if Trump is elected
2024-09-27
Author: Content Editor
Wyoming Senator Cynthia Lummis predicts that SEC Chair Gary Gensler may step down from his position next year, particularly if Donald Trump is elected president. She also mentions that Gensler fails to recognize Bitcoin and Ethereum as commodities and does not provide clear regulations for other cryptocurrencies. Lummis emphasizes the importance of regulating the crypto industry in the US to provide clarity and prevent other countries from surpassing them in financial services. She agrees with Gensler's statement about the need for clarity to foster industry growth but criticizes the SEC's approach of regulating through enforcement actions rather than clear rules. Additionally, Lummis urges regulators not to mistake fraudsters for the cryptocurrency asset itself.
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