Gary Gensler Could Become Secretry of Treasury if Kamala Harris Wins the Election

Gary Gensler, the current head of the U.S. Securities and Exchange Commission (SEC) known for his critical stance on cryptocurrencies, could become Treasury secretary if Vice President Kamala Harris wins the upcoming presidential election, according to a report by the Washington Reporter on Monday.

The report claims, based on information from unnamed senior Senate officials, that Harris intends to nominate Gensler for the role of Treasury secretary if she secures the presidency.

Appointed chairman of the Securities and Exchange Commission in 2021 by President Joe Biden, Gensler has become a controversial figure in the crypto community.

Gensler’s strict approach to crypto regulation has drawn criticism from both sides of the political spectrum. Republican Representative Tom Emmer of Minnesota accused Gensler of trying to stifle free markets, innovation and global competitiveness. Meanwhile, Democratic Representative Richie Torres of New York described Gensler’s interpretation of securities laws as “flexible and subject to manipulation.”

READ MORE:

Goldman Sachs Reduces Recession Probability Following Economic Data

Gensler previously served as chairman of the U.S. Commodity Futures Trading Commission during the Obama administration and played a key role as a senior adviser to Senator Paul Sarbanes in drafting the Sarbanes-Oxley Act. His tenure as chairman of the Securities and Exchange Commission is scheduled to end in 2026, but his future in that position could be affected by the outcome of the next presidential election, particularly if former President Donald Trump, who recently announced his support for cryptocurrencies, is re-elected.

The announcement has been accompanied by some skepticism, with Caitlin Long, CEO of Avanti Bank and a prominent figure in Wyoming’s blockchain sector, suggesting on Platform X that Gensler himself may have spread the rumor to spark comments.

There is reportedly speculation that SEC Commissioner Carolyn Crenshaw could succeed Gensler if he leaves the SEC and also mentions Massachusetts Senator Elizabeth Warren as another possible candidate for the Treasury post.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.