Is the SEC chairman going to be replaced? Mark Cuban Interested in Becoming SEC Chairman, Harris Vows to Include Bitcoin in US Economic Plan

U.S. Vice President Kamala Harris has emphasised America’s need to lead in blockchain technology, adding Bitcoin to her economic vision. Billionaire investor Mark Cuban has also expressed interest in becoming SEC chairman, potentially replacing Gary Gensler, who has faced criticism for his stance on cryptocurrencies.

Harris Pledges to Promote Bitcoin and Emerging Technologies as Part of Her "Opportunity Economy" Vision

In a recent speech at the Pittsburgh Economic Club, Harris reiterated her commitment to positioning the United States as a global leader in emerging technologies such as artificial intelligence (AI), quantum computing, and blockchain. She included Bitcoin in her broader economic strategy, calling it part of her "opportunity economy" vision.

According to Harris, her administration aims to encourage innovation in digital assets while safeguarding consumers and investors. Her plan, outlined in an 80-page economic document, includes creating a safe and transparent business environment, providing consistent regulation for new technologies.

Source: Kamala Harris official website

Cuban says current chairman Gensler should resign for failing to protect investors from cryptocurrency fraud

At the same time, Cuban, a prominent cryptocurrency advocate, has expressed interest in leading the U.S. Securities and Exchange Commission (SEC). Speaking to Fox News, Cuban criticised current SEC Chairman Gary Gensler for failing to protect investors from cryptocurrency fraud and indicated that he would bring a more pro-crypto stance to the agency.

Cuban vs Gensler

Cuban’s possible appointment as SEC chairman could significantly shift the agency's approach to cryptocurrencies. He has been vocal about Gensler’s failure to adequately protect investors, stating that Gensler should resign. Cuban has positioned himself as a defender of the digital asset space, criticising the lack of proper regulation under Gensler’s leadership.

Read more: Trump "betrays" Bitcoin! American billionaire Cuban accuses him of trying to profit from supporters through the new currency

U.S. Presidential Election Poised to Shape Future of Cryptocurrency Policy

The upcoming U.S. presidential election may significantly impact the cryptocurrency landscape. Harris and Republican candidate Donald Trump both support Bitcoin, but analysts note that their approaches may have different consequences for the broader digital asset market.

According to VanEck analysts, Harris could accelerate Bitcoin adoption by addressing key regulatory issues. Trump, meanwhile, has also shown enthusiasm for the sector, with his family’s financial project planning a token sale.

While the race remains tight, with Harris holding a narrow 50% lead over Trump’s 49%, according to Polymarket, the outcome may influence U.S. policy on digital assets and technology innovation.

Source: Polymarket

Read more: Kamala Harris’s Crypto Support: Just an Empty Promise?

Decentralised Finance Opportunity Act Seeks Balanced Regulation Amid Concerns Over DeFi Development

Meanwhile, new legislation focusing on decentralised finance (DeFi) is under consideration. U.S. Congressman Warren Davidson has introduced the Decentralised Finance Opportunity Act, urging regulators, including the SEC and the Commodity Futures Trading Commission (CFTC), to examine DeFi's role in the capital markets.

Davidson warned that the current administration’s approach could stifle DeFi’s development and threaten user privacy. He called for balanced financial regulation to foster the growth of digital markets without overstepping boundaries.