Former SEC Division of Enforcement Assistant Director Jennifer Lee stated on Could 2 that Donald Trump’s attainable reelection seemingly received’t change the SEC’s stance on crypto.
Lee advised CNBC the SEC “vigorously pursued crypto circumstances” throughout Trump’s first presidential time period and that it introduced “daylight and regulation” to the burgeoning business.
She predicted that the SEC would proceed to “outline its house and attain over crypto” if Trump served a second presidential time period.
The SEC is extra constant about whether or not particular cryptos fall inside the company’s scope, however the extent of its jurisdiction over the business stays an open query, Lee stated.
Lee didn’t touch upon the SEC’s actual actions throughout Trump’s first time period. Nevertheless, then-SEC chair Jay Clayton critically introduced some crypto gross sales underneath the SEC’s purview circa 2018, together with throughout a Senate listening to the place he stated all ICOs he had seen had been securities.
Clayton additionally believed that some cryptos, together with Bitcoin, weren’t securities on the time.
Others anticipate pro-crypto insurance policies
One other ex-SEC member, Former Chief of the SEC Workplace of Web Enforcement John Reed Stark, has argued that the SEC underneath Trump will not be harsh on crypto.
Stark stated in September {that a} Republican-appointed SEC chair would seemingly “decelerate significantly” the SEC’s crypto enforcement efforts. He additionally instructed that Trump might change his anti-crypto perspective to cater to single-issue crypto voters.
Stark famous that Trump has vital crypto holdings, an assertion backed by monetary filings associated to Trump’s NFT ventures.
Others have instructed a equally gentle contact. In January, Home Majority Whip Tom Emmer stated a second Trump administration might be “extra pleasant” to crypto.
In March, Trump himself instructed a measured method to crypto regulation.
No matter coverage change, a change in presidential administration may influence SEC management. SEC chairs typically resign throughout administration adjustments. As such, present SEC chair Gary Gensler, whose time period lasts till June 2026, may resign within the occasion of a Trump victory.
The seemingly end result of the US presidential election is unknown. FiveThirtyEight predicts that Trump and Biden have equal odds of successful, with Trump at 41.7% and Biden at 40.7%.