Why Gary Gensler Will Likely Be Out as SEC Chair No Matter Who Wins the Election - Ep. 680

Jul 30, 2024

Guest

Justin Slaughter

Guest

Sheila Warren

In this discussion, Sheila Warren, CEO of the Crypto Council for Innovation, and Justin Slaughter, Policy Director at Paradigm, dive into the evolving landscape of crypto politics. They analyze Trump's surprising pro-Bitcoin stance and the Democrats' shift towards a crypto-friendly agenda. The duo also explores the potential ramifications of a changing SEC leadership and Gary Gensler's uncertain future. They highlight the crucial role crypto voters could play in the upcoming elections and decode the significance of the proposed Bitcoin Strategic Reserve Bill.

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ANECDOTE

Trump's Surprise at Gensler's Unpopularity

Trump repeated his promise to fire SEC Chair Gary Gensler due to the crowd's overwhelmingly positive response.
This suggests Trump may not have initially realized the extent of Gensler's unpopularity within the crypto community.

INSIGHT

Shifting Democratic Views on Crypto

The increasing pro-crypto sentiment among voters, especially Democrats, is changing the political landscape.
This shift makes it crucial for any Democratic SEC nominee to adopt a pro-crypto stance for confirmation.

INSIGHT

Shifting Focus on Crypto Regulation

The proposal of a national Bitcoin reserve signals a shift in political discourse from crypto's existence to its role in the economy.
This marks progress toward normalizing crypto as a legitimate asset class.

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As the 2024 elections approach, crypto voters are a real bloc that could be a deciding factor in what looks to be a tight race.

In this episode, Sheila Warren of the Crypto Council for Innovation and Justin Slaughter from Paradigm discuss the significance of Trump appearing at Bitcoin 2024, promising the crypto community pretty much everything on its bucket list, the Democrats’ seeming pro-crypto shift behind the scenes, and the game theory around Gary Gensler’s future (likely not at the SEC).

Plus, they cover the significance (and likelihood of passing) of the Bitcoin Strategic Reserve Bill proposed and to be introduced by Sen. Cynthia Lummis, what would it take for Kamala Harris to show that she truly is a crypto-friendly candidate, and what the Democrats would have to do to undo the damage done by Gensler and win some of the crypto vote.

Lastly, they explore the potential impact on the SEC of the Supreme Court’s decision to overturn the Chevron doctrine.

Show highlights:

00:00 Intro
02:08 The significance of a US Presidential candidate, Trump, embracing Bitcoin
04:59 What Justin’s and Sheila’s takes are on the Democrats' sudden shift towards embracing a pro-crypto agenda and whether they can catch up
15:03 The key factor in Trump's shift from giving crypto platitudes to making substantive promises that top the crypto community’s wish list
20:21 How significant crypto could be in influencing the election, particularly in swing states
23:52 Whether Trump would even be able to fire Gary Gensler as SEC Chair, as he has promised
33:23 How the dynamics between Elizabeth Warren and Kamala Harris differ from the relationship Warren has with Biden
42:48 What could happen with the SEC Commissioner if Harris wins the presidency
50:34 The meaning of the Strategic Bitcoin Reserve in the US
57:55 How JD Vance's status as a Bitcoin owner could influence crypto voters and whether Harris could pick a pro-crypto VP
1:05:43 The chances the Democratic Party adopts a crypto plank, and what it might include
1:09:9 Whether there’s a chance a crypto bill could be passed this year
1:14:49 How the Supreme Court's recent decision to limit agency power by overturning the Chevron doctrine could impact the SEC's approach to crypto regulation
1:20:45 How Harris can establish a new stance on crypto while distancing herself from Biden's administration, without appearing disloyal

Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com

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Guests:

Sheila Warren, CEO of Crypto Council for Innovation (CCI)
Justin Slaughter, Policy Director at Paradigm

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