Crypto market players prepare wishlist for potential second Trump administration

- Former U.S. President Donald Trump pledged at a bitcoin conference to dismiss SEC Chair Gary Gensler if reelected, garnering support from the crypto industry.

-Under Gensler's leadership, the SEC has initiated numerous crypto enforcement actions and imposed hefty fines on major exchanges like Coinbase, Binance, and Kraken.

-The crypto industry hopes for a Trump victory to appoint a more crypto-friendly SEC chair who could address key industry concerns, such as regulatory clarity and safe harbor for new tokens.

Former U.S. President Donald Trump declared at a bitcoin conference his intention to replace SEC Chair Gary Gensler if reelected, triggering enthusiasm from the crypto community. Gensler's strict regulatory approach led to significant enforcement actions against major exchanges, prompting hopes within the industry for a more favorable regulatory environment under a potential Trump administration. The crypto sector seeks regulatory clarity and a safe harbor for new tokens, anticipating a shift in the SEC's approach if a crypto-friendly chair is appointed post-election. The industry's wish list includes addressing limitations on Americans' crypto custody options and revisiting enforcement actions under Gensler's tenure.