Rumours of Kamala Harris Appointing Gary Gensler as Treasury Secretary Prove Unfounded

A report from Washington Reporter on August 19 suggested that if Vice President Kamala Harris becomes President, she might consider appointing SEC Chair Gary Gensler as US Treasury Secretary. This led to debate within the crypto community, as Gensler is known for his stringent stance on cryptocurrency regulation.

Several crypto industry leaders have dismissed the rumour as unfounded. Custodia Bank CEO Caitlyn Long indicated that discussions with Democrats suggest the news might have originated from Gensler himself, potentially as a ploy. Dennis Porter, founder of the Satoshi Act Fund, criticised the media coverage and claimed Senate sources are incorrect.

Gary Gensler, during his tenure as SEC Chair under the Biden administration, has been involved in anti-crypto initiatives. Many view him as a key figure in measures perceived as targeting the cryptocurrency sector, sometimes referred to as Operation Choke Point 2.0.

According to the report, Gensler’s potential appointment would likely face strong opposition from Republicans, who have generally supported the crypto industry. Speculation also suggests that Gensler might be willing to step down from his SEC role if appointed to Treasury.

The “Crypto for Harris” campaign aims to enhance Kamala Harris’s image among crypto enthusiasts. However, there has been no official comment from the Vice President on this matter. Additionally, the Democratic National Convention, which began on August 19, did not address cryptocurrency in its extensive documentation.