Crypto Industry Executives Endorse Trump's Pick to Lead the SEC!

As Donald Trump was elected as the President of the United States last month, it was already assumed that if Donald Trump is re-elected as the President of the United States, the position of the Chairman of the US Securities and Exchange Commission may be reshuffled. That speculation is now well on its way to reality as many executives representing the country's high-profile cryptocurrency companies weigh in on President-elect Donald Trump's pick for the next chair of the Securities and Exchange Commission (SEC). Even the majority of responses from crypto industry executives have been positive. Currently, the nation's crypto industry executives have endorsed Trump's pick to lead the SEC.

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The current chairman of the US Securities and Exchange Commission will resign on the 20th of next month. Then a new chairman will be appointed. In any case, former SEC Commissioner Paul Atkins was a great choice to lead the regulatory agency. Many were opposed to the current chairman of the SEC, especially because many of his decisions went against crypto executives or companies.

So these US crypto executives feel that they are currently waiting for someone who will come into the position and hit the ground running as soon as he arrives, and he can also work with other commissioners very easily. They even think that whoever comes in the new position will also negotiate with the new Commodity Futures Trading Commission and lawmakers. This will show that all these crypto executives can get some clarity about the person or the person who will come to that position about the new chairman in the new congress. Even they are hoping that the new chairman can actually speed them up some progress. They are confident that momentum will be gained, especially regarding stablecoin bills, market structures, etc.

However, the crypto industry currently has many lawsuits led by the SEC. But many believe that if the SEC leadership changes, these cases may end. As we all know that Ripple is a crypto. This is at least one crypto from a blockchain firm. It was also one of the first targets by the SEC against it. A lawsuit was filed against Ripple around 20 years ago. Allegations brought against them were that the company used the XRP token as an unregistered security to raise funds. Even last August, the court imposed a fine against it. They were found liable and a judge found Ripple liable for $125 million. But the SEC is appealing the ruling. It's unclear how the case might proceed under the new SEC chair. However, it was already anticipated that there would be a change in the position of the US financial regulator. Even before the presidential election as a presidential candidate, Donald Trump gave such accommodation. And now it is going to be implemented. Let's see how the new chairman of the US regulator treats the crypto industry.