U.S. Senator Lummis: If Trump is elected, the SEC chairman may resign next year

2024-09-29 10:33:54

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ChainCatcher news, according to Cryptoslate, U.S. Senator Cynthia Lummis from Wyoming believes that SEC Chairman Gary Gensler may resign from his position at the regulatory agency next year. She made the remarks on CNBC's Squawk Box on September 27, in response to the host stating that Gensler "loves this job" and does not want to leave it. She added, "I don't believe that will happen, especially if Trump is elected president." However, she also stated that she could not confirm if the same would be true if Vice President Kamala Harris were elected.

Additionally, Lummis stated that Gensler does not "fully recognize" that Bitcoin and Ethereum are commodities. Lummis further indicated that other cryptocurrencies may be commodities, but did not specify: "We need to have a clear definition. We can use the Howey test, and as it gets updated, there may be other assets besides Bitcoin and Ethereum that qualify for the jurisdiction of the Commodity Futures Trading Commission."

It is worth noting that Gensler reiterated on September 26 during his appearance on Squawk Box that the SEC views Bitcoin as a commodity. However, during the congressional hearing on September 24, he did not comment on the status of Ethereum.

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