Is it true for Trump to fire Gary Gensler? The SEC chairman’s term ends in June 2026
In a recent interview, Congressman Frances Hill was asked at a Bitcoin conference about former President Donald Trump's statement that he intended to fire SEC Chairman Gary Gensler on his first day back in office. Hill detailed the complexities of making such a change, explaining that the SEC operates as an independent agency.
Time limits and appointment process
Speaking to Thinking Crypto, Hill said Gensler's current term expires in June 2026, complicating any quick dismissal. The legal framework surrounding the SEC's leadership is not entirely clear, Hill said, adding, “It's not automatic.” Typically, newly elected presidents can invite executive branch officials to resign, which can pave the way for new appointees.
Possible results for Gensler's position
According to Hill, there is also a possibility that Gensler will remain as commissioner when he takes over as chairman. That would allow a Trump nominee to hold the chair while Gensler takes his seat on the commission. However, Hill said the details of such a scenario are uncertain.
Criticism of current SEC leadership
The congressman expressed his displeasure with Gensler's leadership, particularly in digital assets. “I don't think Chairman Gensler did a good job at the SEC,” he said. Hill urged that future SEC leadership should be more supportive of innovation, suggesting that the agency should use its authority to provide exemptions that encourage experimentation in emerging areas rather than taking an adversarial stance.
He thanked Commissioner Hester Peirce for her efforts to bring these issues to the public and expressed hope that the SEC will have a new chairman after the next presidential election, regardless of who wins.
