Regulation
XRP Lawyer Outlines Gary Gensler’s Options If Donald Trump Win
With Donald Trump’s 2024 presidential odds rising, speculation is building over the future of US SEC Chair Gary Gensler. Pro-XRP lawyer and online commentator MetaLawMan recently outlined possible scenarios for Gensler if Trump takes office.
The lawyer, known for his analysis on regulatory matters, presented potential paths Gensler might take under a Trump administration.
Gary Gensler’s Possible Resignation or Removal
MetaLawMan indicated that, traditionally, agency heads resign when a new president is inaugurated. “The normal move is option #1,” MetaLawMan posted, referring to the expectation that Gensler may follow the precedent set by former SEC Chairman Jay Clayton, who resigned shortly after President Joe Biden assumed office in 2020. This would allow a Trump administration to appoint a new SEC Chair aligned with its policy stance.
If Gensler does not voluntarily resign, MetaLawMan suggested Trump could request his resignation on Day 1. Should Gensler comply, this option would streamline the transition and minimize any disruption at the US SEC. However, if Gary Gensler chooses to stay, Trump could potentially reassign him to a non-chair role within the SEC, although such a decision would require legal and procedural justification.
One possible scenario involves Trump firing Gensler if he refuses to resign. This outcome could result in a legal battle if Gensler challenges his dismissal in court. MetaLawMan noted, “If Gensler chooses option #5, he would likely lose in court,” though the process could extend over months. No Supreme Court ruling exists specifically addressing the president’s right to remove an SEC Commissioner, which could lead to significant legal debates. If Gensler pursued this route, it could set a legal precedent and cause delays within the SEC during a critical period of regulatory adjustments.
Speculations on US SEC Chair Career Path
As discussions around his potential departure intensify, some commentators speculate on where Gensler might move next if he steps down. According to MetaLawMan, many expect Gary Gensler could transition into prominent roles in academia or international institutions, such as the Council on Foreign Relations or the International Monetary Fund.
Observers also consider the possibility of Gensler joining corporate boards or taking leadership roles within the private sector, given his regulatory experience and political connections.
Analysts suggest that Gensler’s extensive experience and knowledge of financial regulations make him a valuable candidate for institutions focusing on global economic policy. Others raised concerns that future Democratic administrations might consider him for positions like Treasury Secretary or Federal Reserve Chairman, especially if he seeks to influence policy in areas like digital asset regulation.
Donald Trump’s Increasing Odds on Polymarket
Donald Trump’s rising odds of winning the 2024 election are evident across decentralized blockchain-based betting platforms. On Polymarket, “whales,” has reportedly committed over $70.6 million in support of Trump, leading to an increase in Donald Trump’s odds to over 66.7 over Kamala Harris’s 33.4%.
With significant sums backing Trump on such platforms, some commentators argue that decentralized prediction markets may offer a more immediate reflection of voter sentiment than traditional polls.
Concurrently, in a recent podcast, Howard Lutnick, CEO of Professional Capital Management, highlighted how Trump’s economic policies fostered job growth and protected U.S. industries. “His America First policy helped attain 3% GDP growth and wage increases,” Lutnick noted, contrasting this with what he described as inflationary effects under current Democratic policies.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The U.S. Securities and Exchange Commission (SEC) has formally acknowledged the filing for Fidelity’s spot Solana (SOL) Exchange-Traded Fund (ETF).
This marks a key development in the financial industry, as Fidelity seeks to list its Solana ETF on the Cboe BZX Exchange. The acknowledgment comes after Fidelity submitted a proposed rule change, paving the way for the potential approval of the product.
Fidelity’s Spot Solana ETF Proposal
The SEC’s acknowledgment follows Fidelity’s filing to list and trade shares of the Fidelity Solana Fund under the Cboe BZX Exchange. The proposed rule change, initially submitted on March 25, was later amended on April 1, 2025, to clarify certain points and add additional details.
The amended proposal aims to list the Solana ETF under BZX Rule, which pertains to commodity-based trust shares. According to the Cboe BZX Exchange, Fidelity plans to register the shares with the SEC through a registration statement on Form S-1.
Fidelity’s experience with crypto ETFs, having launched the Fidelity Wise Origin Bitcoin Fund (FBTC) and the Fidelity Ethereum Fund (FETH), has prepared it for this new initiative. FBTC has drawn substantial interest, accumulating nearly $17 billion in assets, while FETH currently manages around $975 million.
This Is A Developing News, Please Check Back For More
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The U.S. Senate Banking Committee has voted to approve Paul Atkins’ nomination for the role of Chair of the Securities and Exchange Commission (SEC). The vote, which took place on Thursday, passed with a narrow margin of 13-11, along party lines.
Paul Atkins, nominated by President Donald Trump, now moves one step closer to taking over the top regulatory position at the US SEC.
Senate Banking Committee Approves Paul Atkins Nomination
Paul Atkins’ nomination for SEC Chair has received approval despite sharp opposition from Democratic members of the Senate Banking Committee. The vote was entirely split, with Republicans supporting Atkins and all Democrats opposing the decision.
This partisan divide highlights the contentious nature of Atkins’ confirmation, which had been under scrutiny for several reasons.
The committee’s approval now clears the path for Atkins to proceed to the full Senate for a final confirmation vote. Given the Republican-controlled Senate, it is widely expected that Atkins will secure the necessary votes to take over the SEC leadership. With Republicans holding a 53-47 majority in the Senate, the confirmation process is anticipated to move forward swiftly.
This Is A Developing News, Please Check Back For More
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Cryptocurrency exchange Kraken has obtained a Restricted Dealer registration in Canada. The registration comes after completing a pre-registration undertaking (PRU) process with Canadian authorities.
The exchange has also announced the appointment of Cynthia Del Pozo as its new General Manager for North America. Del Pozo will oversee Kraken’s growth initiatives in Canada.
Kraken Completes PRU Process In Canada
Kraken’s Restricted Dealer registration marks the completion of a thorough pre-registration undertaking (PRU) process with Canadian regulators. The registration places Kraken under the supervision of the Ontario Securities Commission (OSC). This oversight ensures users have access to secure crypto products within a properly regulated local ecosystem.
According to the Canadian Securities Administrators (CSA), the Restricted Dealer registration is one of eight firm registration types in Canada. This particular classification is used for firms that “do not quite fit under any other category.” It also comes with specific requirements and conditions set by securities regulators.
Kraken’s regulatory achievement comes during a period of change in the Canadian crypto sector. Just months earlier, competitor Gemini exchange announced its departure from the Canadian exchange market by the end of 2024. This was a move that surprised many and raised questions about cryptocurrency regulation clarity in the country.
Kraken Introduces New Canadian GM
Del Pozo has joined Kraken to lead its Canadian operations as the new General Manager for North America. She has nearly 15 years of experience in corporate development, operations, and fintech consulting. Del Pozo will help to guide Kraken’s expansion across Canada during this important phase of crypto’s development in the region.
“Canada is at a turning point for crypto adoption, with a growing number of investors and institutions recognizing digital assets as a vital part of the financial future. I’m thrilled to join Kraken’s mission at this critical moment, and to lead our expansion efforts, ensuring we continue to serve our clients long-term with innovative and compliant products,” said Del Pozo.
In her role, Del Pozo will focus on strengthening Kraken’s regulatory relationships and also scaling the company’s presence throughout North America.
Del Pozo also commented on the registration achievement: “This Restricted Dealer registration is testament to the high bar Kraken has always set for consumer protection, client service, and robust security. We’re excited to continue expanding our world-class investment platform and to deliver innovative products that provide real-world utility to Canadians.”
The Exchange’s Continued Growth In Canada
Over the past two years, the cryptocurrency exchange has shown steady expansion in Canada while working through the PRU process with regulators. During this period, the exchange has doubled its team size and monthly active users.
According to the official blog post figures, the firm now has more than $2 billion CAD in total client assets under custody. Kraken has also increased support for some of the most popular cryptocurrencies. It provides several CAD spot trading pairs that enable Canadians to trade crypto without paying expensive foreign exchange fees.
According to Innovative Research Group’s 2024 Investor Survey, 30% of Canadian investors currently own or have owned cryptocurrencies. Likewise, a KPMG Canada survey discovered that 30% of Canadian institutional investors now have exposure to cryptocurrencies, which means widespread adoption across investor types.
Vignesh
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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