As discussions swirl around the future leadership of the Securities and Exchange Commission (SEC), a slate of pro-crypto candidates has come into the spotlight, raising questions about the regulatory agency’s future direction under new leadership. Currently chaired by Gary Gensler, whose term expires on January 5, 2026, the SEC has taken an assertive stance on crypto regulations. However, this approach has sparked controversy, with calls for a shift toward more crypto-friendly policies.
Gensler’s Position in Question
Appointed by President Joe Biden in April 2021, Gensler’s term has been marked by active regulatory interventions in the crypto industry. However, Republican candidate and former President Donald Trump has stated that, if elected in 2024, he would remove Gensler from his position on his first day in office. Removing Gensler would not be straightforward, as Trump would need to demonstrate cause, such as inefficiency or misconduct, to justify the dismissal.
While a Trump-led administration could seek Gensler’s removal, the process could extend over a year, potentially leading to a resignation if Gensler chooses to step down. Meanwhile, Democratic candidate and current Vice President Kamala Harris has not stated her official stance but has hinted at the potential for leadership change, possibly in favor of a less adversarial approach to crypto regulation.
Key Pro-Crypto Contenders
Several notable figures have been identified as potential successors to Gensler, each bringing a different perspective on how the SEC might approach cryptocurrency regulation:
Hester Peirce – “Crypto Mom”
Known for her pro-crypto stance, SEC Commissioner Hester Peirce has often voiced opposition to Gensler’s regulatory approach, arguing for clearer and more accommodating guidelines for the crypto industry. Appointed in 2018, Peirce has become a favorite within the crypto community for her calls to avoid regulating the sector through enforcement actions. If Trump were to assume office, Peirce is widely regarded as a likely choice for SEC chair due to her alignment with a more progressive crypto policy.
J. Christopher Giancarlo – “Crypto Dad”
Former chairman of the Commodity Futures Trading Commission (CFTC) under the Trump administration, Giancarlo has gained recognition for approving Bitcoin futures trading. He has since championed digital asset innovation and advocates for a “Digital Dollar” through his Digital Dollar Project. His extensive experience with digital finance positions him as a credible candidate who could bring a balanced approach to crypto regulation.
Chris Brummer
With ties to the Democratic Party, Chris Brummer could be a potential candidate under a Harris administration. Brummer’s background includes roles in financial regulation transitions and a focus on creating clear guidelines without stifling innovation. Recently, he launched Bluprynt, a firm dedicated to compliance with EU crypto regulations, adding to his crypto regulatory experience. Many believe his appointment could represent a “peace offering” to the crypto industry.
Paul Atkins
A former SEC commissioner and member of Trump’s 2016 transition team, Paul Atkins is known for his free-market approach and opposition to heavy regulation. His role at Patomak Global Partners and co-chair position at the Token Alliance, a blockchain advocacy group, underscores his interest in promoting a less restrictive regulatory environment.
Erica Williams
Currently chairing the Public Company Accounting Oversight Board (PCAOB), Erica Williams has a significant background in financial regulation but has yet to make her stance on cryptocurrency known. Her history with the SEC and her pragmatic approach to financial regulation suggest she could support crypto-friendly policies while maintaining strict oversight on security.
Heath Tarbert
As former head of the CFTC, Heath Tarbert led record-breaking enforcement actions and has experience across multiple federal departments, including the Department of Justice. Currently with Circle, a payments technology firm, Tarbert’s experience with crypto assets positions him as a potential candidate for SEC leadership, especially if a strong pro-business stance is prioritized.
Robert Stebbins
A close adviser to Trump’s SEC chair Jay Clayton, Robert Stebbins brings extensive experience in corporate governance. His previous work advising the SEC on over 85 rules, coupled with his current role at Willkie Farr & Gallagher, suggests he would advocate for practical, business-friendly policies at the SEC.
Dan Gallagher
Robinhood’s chief legal officer and former SEC commissioner, Dan Gallagher has openly criticized the Federal Reserve’s policies and has a history of advocating for stock market reforms. Though his position at Robinhood could complicate his candidacy, Gallagher is regarded as a strong supporter of lighter financial regulations and may be considered under a Trump administration.
Implications for Crypto Regulation
The potential appointment of a new SEC chair with a pro-crypto stance could lead to a significant regulatory shift. Industry advocates have long argued for clearer, less restrictive guidelines, and a new SEC leader sympathetic to crypto innovation could pave the way for more streamlined regulations. A leadership change at the SEC could also increase the chances of regulatory clarity around emerging technologies like decentralized finance (DeFi) and non-fungible tokens (NFTs).
Conclusion
With the 2024 U.S. election approaching, the future of crypto regulation remains uncertain. Whether Trump or Harris ultimately directs the next phase of SEC leadership, the crypto community is watching closely, as the choice of chair will set the regulatory tone for years to come. For now, industry advocates can look to pro-crypto figures like Peirce, Giancarlo, and Brummer as potential candidates who could bring a more balanced approach to regulating this fast-evolving sector.
