Trump promises to fire the SEC chairman on his first day in office or face obstacles

2024-08-06 23:41:00

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ChainCatcher news, according to Fortune, Penn State Dickinson Law Professor Tonya Evans pointed out that Trump claimed at the Bitcoin 2024 conference that if elected president, he would fire SEC Chairman Gary Gensler on the first day and push for the federal government to hold Bitcoin. However, the promise to fire Gensler faces significant obstacles.

It is reported that the dismissal process is very complex, and Trump must prove that Gary Gensler has exhibited inefficiency, dereliction of duty, or misconduct in order to initiate the removal process.

Although some politicians and representatives from the crypto industry believe Gensler has performed poorly and see grounds for his dismissal, the entire process could take months, potentially exceeding Gary Gensler's five-year term. Therefore, unless Gary Gensler resigns on the first day, his departure will not be realized quickly.

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