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Attorney James Murphy believes SEC Chair Gary Gensler could become the Secretary of the United States Treasury if President Joe Biden is reelected.
With just a few months left before the 2024 United States election is held, crypto enthusiasts have been speculating on the future of SEC Chair Gary Gensler.
Many are eager to know whether Gensler will continue as the SEC Chair after the election or get a different appointment.
Gensler Could Be Appointed As U.S. Treasury Secretary
Attorney James Murphy (a.k.a. MetaLawMan) weighed into the discussion in a recent interview with Tony Edward of Thinking Crypto podcast.
What will happen to SEC chair Gary Gensler after the 2024 presidential election? Will he be removed or leave for the treasury job?
James Murphy aka MetaLawMan shares his thoughts.
Watch the full interview https://t.co/16DcSawEC9 #garygensler #elizabethwarren #xrp #ripple… pic.twitter.com/2cs4XOF6Xw
— Tony Edward (Thinking Crypto Podcast) (@ThinkingCrypto1) February 13, 2024
According to him, many United States politicians, including Senator Elizabeth Warren, have been throwing their weights behind Gensler to continue clamping down on crypto.
He noted that these U.S. politicians have supported Gensler’s anti-crypto agenda despite the bad optics against the SEC under his leadership.
For instance, Magistrate Sarah Netburn, in the Ripple case, slammed the SEC attorneys for lacking faithful allegiance to the law. Additionally, the SEC recently signaled its intention to dismiss the lawsuit against DEBT Box without prejudice after the judge threatened to sanction its lawyers for providing misleading facts to obtain a restraining order.
In response to whether Gensler will continue as the SEC Chair, MetaLawMan speculated that the securities boss could achieve his dream of becoming the Secretary of the United States Treasury if President Joe Biden is reelected.
However, Attorney Murphy asserted that developments at the Senate will determine whether Gensler and other appointees will be passed.
“If the Republicans take over the Senate, it is going to get hard to pass through some of these nominations that may be problematic,” Attorney Murphy remarked.
Gensler Still Loves SEC Job
It is worth mentioning that Gensler recently disclosed his intentions to continue as SEC Chair if President Biden is reelected. While professing his love for the job, Gensler noted that being the SEC chairman allows him to do something for the greater good.
However, crypto enthusiasts have a contrary opinion. They believe the SEC chair’s anti-crypto agenda stifles the industry’s growth while driving innovation out of the U.S.
As the 2024 United States election edges closer, crypto supporters hope for an outcome that would favor the industry.