According to a report by Fortune, Tonya Evans, a professor at Penn State University Dickinson Law School, pointed out that at the Bitcoin 2024 conference, Trump claimed that if elected president, he would fire SEC Chairman Gary Gensler on his first day and push for the federal government to hold Bitcoin. However, the promise to dismiss Gensler faces significant obstacles.
Experts state that the termination process is quite complex, and Trump must demonstrate that Gary Gensler has engaged in inefficiency, dereliction of duty, or misconduct to initiate the dismissal process. Although some politicians and representatives from the cryptocurrency industry believe that Gensler’s performance has been lacking and see grounds for his dismissal, the entire process could take months, potentially exceeding Gary Gensler’s five-year term. Therefore, unless Gary Gensler resigns on the first day, the process of his dismissal is unlikely to be swift.
Original link:
https://fortune.com/crypto/2024/08/06/trump-says-he-would-fire-sec-chair-gary-…
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