There are rising rumors in Washington that Vice President Kamala Harris could nominate SEC Chair Gary Gensler as Treasury Secretary if she wins on the polls in November.
These rumors corroborate what prime Republicans have additionally instructed the Washington Reporter on the report it reported on Aug. 19.
Talking to the outlet, Minnesota consultant Tom Emmer beforehand warned that Harris could choose Gensler or, even worse, Senator Elizabeth Warren to function her Treasury Secretary.
Such a transfer “could be a catastrophe for the economic system,” he stated.
“lawsuits in all places” – Rep Emmer on what life underneath Treasury Secretary Gensler could be like. He additionally thinks Warren could possibly be picked too. It kinda feels like he is the supply of the rumor.. by way of Washington Reporter https://t.co/vUvhFzkKo2 pic.twitter.com/nTL0GeviAc
— Eric Balchunas (@EricBalchunas) August 19, 2024
An Anti-Crypto Treasury Secretary
The anti-CBDC and pro-crypto Congressman stated that Gensler has “been bringing lawsuits in all places — and dropping in all places” earlier than including:
“That point’s previous. Gary Gensler wants to maneuver on. His profession in authorities needs to be over.”
Ought to Harris overcome Trump, senior Republican Senate workers anticipate “unified Republican opposition” to Gensler, however he’ll seemingly have the ability to depend on broad Democratic assist, the report added.
The political rumors don’t cease there. There are additionally some claiming that Gensler could step down as SEC chairman. This might permit the Biden administration to appoint a brand new chair previous to the November election.
One attainable alternative is SEC commissioner Caroline Crenshaw, who can also be pro-banking and anti-crypto.
In January, she voted towards spot Bitcoin ETFs, claiming that underlying markets had been “marred by fraud and manipulation” and arguing that it’s “well-documented that many criminals use Bitcoin to evade US monetary sanctions.”
Finish of Crypto in The US?
In a publish on X on Aug. 20, Ethereum advocate Ryan Sean Adams and Bankless founder stated:
“If true, this could principally END crypto within the U.S. and we’d as nicely flee the nation now.”
He added that since we now have nothing from Kamala Harris telling us she wouldn’t nominate Gensler, “we are able to’t totally rule it out.”
“There’s been ample alternative to increase an olive department to crypto… they’ve given nothing.”
The Democratic Nationwide Committee printed its 2024 Celebration Platform on Sunday — a doc detailing the Democrats’ future political priorities heading into the following election — and it didn’t point out crypto as soon as.
Founding father of crypto financial institution Custodia, Caitlin Lengthy, stated that a number of Democrats have contacted her to say the “Gensler as Treasury Secretary” rumor is fake.
“One thinks the supply of the rumor is Gensler himself — (thinks he planted it simply to mess with all of us…that sounds about proper, TBH)”, she added.
DONALD TRUMP:
– I’ll fireplace Gary Gensler on Day 1KAMALA HARRIS:
I’ll make Gary Gensler Treasury SecretaryRobust alternative… 🤔 pic.twitter.com/I0g7o4QBaP
— Bitcoin Archive (@BTC_Archive) August 19, 2024
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