Former SEC Enforcement Director Jennifer Lee said on May 2 that President Donald Trump's possible re-election will not change the SEC's stance on cryptocurrencies.
Lee told CNBC that during President Trump's first term, the SEC “vigorously pursued crypto cases,” which brought “the light of day and regulation” to the burgeoning industry.
She predicted that if Trump were to serve a second term, the SEC would continue to “define its territory and reach into cryptocurrencies.”
The SEC has been more consistent about whether certain cryptocurrencies fall within the SEC's purview, but the scope of its jurisdiction over the industry remains an open question, Lee said.
Lee did not comment on specific SEC actions during President Trump's first term. However, around 2018, then-SEC Chairman Jay Clayton placed some virtual currency sales under the authority of the SEC, and stated in a Senate hearing that all ICOs he had seen were securities. , spoke critically.
Clayton also believed that some cryptocurrencies, including Bitcoin, were not securities at the time.
Some people expect a policy to promote cryptocurrencies
Another former SEC commissioner, former SEC Director of Internet Enforcement John Reed Stark, argued that the SEC under the Trump administration may not be as tough on cryptocurrencies.
Stark said: September He said the Republican-appointed SEC chairman would likely “significantly slow down” the SEC's cryptocurrency enforcement efforts. He also suggested that President Trump may change his anti-crypto stance to cater to single-stock crypto voters.
Stark noted that Trump holds large amounts of cryptocurrencies, a claim supported by financial documents related to Trump's NFT business.
Some suggest a similarly light touch. In January, House Majority Whip Tom Emmer said a second Trump administration could become “more friendly” towards cryptocurrencies.
In March, Trump himself proposed a cautious approach to cryptocurrency regulation.
Regardless of policy changes, changes in presidential administrations can impact SEC leadership. The SEC chair typically resigns when there is a change of administration. Therefore, current SEC Chairman Gary Gensler, whose term ends in June 2026, could resign if Trump wins.
The expected outcome of the US presidential election is unknown. FiveThirtyEight predicts that Trump and Biden have an equal chance of winning, with Trump at 41.7% and Biden at 40.7%.
