On October 21, COINOTAG disclosed that Vice President Kamala Harris’ transition team is currently evaluating candidates to succeed Gary Gensler as the chairman of the U.S. Securities and Exchange Commission (SEC). Among the potential successors are Professor Chris Brummer from Georgetown University Law Center and Erica Williams, chair of the Public Company Accounting Oversight Board (PCAOB). Both individuals are perceived as more favorable towards cryptocurrencies, including Bitcoin, compared to Gensler’s regulatory stance.
It is important to note that Harris has not made any commitments regarding Gensler’s replacement, with her team focusing primarily on pressing voting issues at this time. A source familiar with the discussions indicated that the current political climate presents challenges, particularly regarding cryptocurrency perception among progressive voters. The Harris campaign remains cautious, as they fear an overtly pro-cryptocurrency position might alienate certain voter demographics who view digital assets as potential scams.