Reports of a Wall Street lawyer as a potential SEC chair candidate in Trump’s administration have divided the crypto community, with some raising concerns that his traditional finance background may lead to an anti-crypto stance.
However, others are more optimistic, speculating that his experience may lead to “thoughtful frameworks” for crypto regulation.
Farley report receives mixed responses
“Farley would be one of the worst — he’s a Wall St banking lawyer tapped by RFK,” Cochran further claimed. “Who you want,” Cochran said, is Chris Giancarlo, aka the “Crypto Dad” of the CFTC; SEC Commissioner Hester Peirce, aka “Crypto Mom,” or Robinhood’s legal chief Dan Gallagher.
Farley’s experience may bolster crypto regulation, says economist
Meanwhile, network economist Timothy Peterson is more optimistic than Cochran about Farley potentially replacing Gensler.
“These insights can be extrapolated to contemporary issues like cryptocurrency regulation, highlighting the need for thoughtful frameworks.”
Cochran added that “some of the other names floated so far have been banking guys who actively tried to cripple cryptos growth.”
Crypto attorney Jake Chervinsky recently opined that Mark Uyeda, an SEC commissioner, is a strong candidate for the role.