Pro-XRP Lawyer suggests that if Gensler does not step down voluntarily, Trump could request his resignation on Day 1.
As Donald Trump’s chances of winning the presidency in 2024 continue to improve, there is growing concern regarding the future of Gary Gensler, the chair of the United States Securities and Exchange Commission.
Recently, a pro-XRP lawyer and internet commentator named MetaLawMan proposed potential outcomes for Gensler should Trump win the presidency. The attorney, who is well-known for his insight on regulatory topics, provided one likely course of action that Gensler could pursue under a Trump administration.
Gary Gensler’s Possible Resignation or Removal
After the inauguration of a new president, it is customary for agency chiefs to step down from their positions, according to MetaLawMan. “The normal move is option #1,” MetaLawMan stated, indicating the expectation that Gensler might emulate former SEC Chairman Jay Clayton’s resignation shortly after President Joe Biden took office in 2020.
First to resign was SEC chairman Clayton. This would make it possible for a Trump administration to appoint a new chair of the Securities and Exchange Commission who is in line with the administration’s policy approach. In the event that Gensler does not willingly step down from his position, MetaLawMan proposes that Trump may submit a resignation request on Day 1.
In the event that Gensler complies, this alternative would simplify the transfer and reduce the amount of disruption that occurs at the United States Securities and Exchange Commission. Trump, on the other hand, has the ability to relocate Gary Gensler to a non-chair function within the Securities and Exchange Commission (SEC) if he decides to remain in his current position.
However, such a decision would require legal and procedural considerations.There is a possibility that Trump would fire Gensler if he continues to refuse to quit his position. In the event that Gensler fights his dismissal in court, this conclusion may result in a judicial struggle of some kind.
Pro-XRP Lawyer stated that Gensler would most likely lose in court if he chooses option #5, even though the procedure could take several months to complete. Given the absence of a Supreme Court rule specifically addressing the president’s power to remove an SEC Commissioner, this could potentially result in a significant legal dispute.
Should Gensler choose to follow this course of action, it has the potential to establish a precedent in the legal system and result in delays within the SEC during a crucial era of regulatory revisions.
Speculations on US SEC Chair Career Path
Some pundits are speculating about Gensler’s potential next move in the event that he stands down from his position, as conversations surrounding his possible resignation become more intense. MetaLawMan expects Gary Gensler to transition into major roles in academia or international institutions like the Council on Foreign Relations or the International Monetary Fund.
Many people have expressed high expectations regarding this possibility. Given Gensler’s experience in the regulatory sector and his political ties, observers are also considering the potential that he may join business boards or take on leadership roles within the private sector.
Analysts assert that Gensler’s significant expertise and knowledge of financial rules make him a desirable prospect for institutions focused on global economic policy. Others expressed concerns that future Democratic administrations might consider him for positions like Treasury Secretary or Chairman of the Federal Reserve, especially if he plans to influence policy in areas like digital asset regulation.
Donald Trump’s Increasing Odds on Polymarket
All decentralized betting systems based on blockchain technology indicate an increasing likelihood of Donald Trump winning the 2024 election. “Whales” reportedly pledged more than $70.6 million in support of Trump on Polymarket. This has resulted in an increase in the probability of Donald Trump winning to over 66.7 percent, which is higher than Kamala Harris’s 33.4%.
The fact that huge sums of money are supporting Trump on such platforms has led some observers to conclude that decentralized prediction markets may provide a more direct depiction of voter opinion than traditional polls.
In a recent podcast, Howard Lutnick, the Chief Executive Officer of Professional Capital Management, emphasized how President Trump’s economic policies have safeguarded American industry and fostered employment growth.
“His America First policy helped attain 3% GDP growth and wage increases,” Lutnick observed, drawing a contrast with what he perceived as inflationary impacts under the Democratic Party’s current policies.
