- Giancarlo stated he’s not focused on any crypto function within the US Treasury
- Hypothesis has grown over who will substitute SEC Chair Gary Gensler following Donald Trump’s re-election
Christopher Giancarlo, former CFTC chair, has denied rumors that he’s being thought-about to exchange Gary Gensler as the pinnacle of the US Securities and Alternate Fee (SEC).
In a put up on X, Giancarlo, referred to as Crypto Dad, stated:
“I’ve made clear that I’ve already cleaned up [an] earlier Gary Gensler mess @CFTC and don’t want to have [to] do it again,” including: “DC rumors that I’m interested in some #crypto role @USTreasury are also wrong.”
As for reviews that I’m in combine to run @SECGov, I’ve made clear that I’ve already cleaned up earlier Gary Gensler mess @CFTC and don’t need to have do it once more. DC rumors that I’m focused on some #crypto function @USTreasury are additionally fallacious.
— Chris Giancarlo (@giancarloMKTS) November 14, 2024
Hypothesis over the long run head of the SEC comes as Donald Trump promised to take away Gensler following his re-election to the White Home earlier this month. Different prospects for the function embrace Hester Peirce, an SEC commissioner, Paul Atkins, a former SEC commissioner, and Mark Uyeda, a present SEC commissioner.
Giancarlo served as a commissioner on the Commodity Futures Buying and selling Fee (CFTC) between 2014 and 2019. In January 2017, he was designated as performing chair of the CFTC and in August 2017 he was confirmed to function the chair till 2019.
In 2020, he co-founded the Digital Greenback Mission, a non-profit discussion board targeted on “digital money innovations” and the advantages of a US central financial institution digital foreign money (CBDC).
Gensler has been a controversial determine within the crypto market. Again in 2022, he stated in an interview that the company was rising its oversight on crypto. One of many instances that is famous is its ongoing authorized battle with Ripple.
Nevertheless, earlier this week, Gensler hinted at a attainable departure from the company throughout a speech on the PLI’s 56th Annual Institute on Securities Regulation. Throughout it, he stated: “It’s been a great honor to serve with [the SEC staff], doing the people’s work, and ensuring that our capital markets remain the best in the world.”
