Despite SEC Chairman Gary Gensler not signaling any intention to leave his role, speculation is growing in Washington that Vice President Kamala Harris may nominate him as Treasury Secretary if she wins the upcoming election.
According to reports shared by senior Senate staffers with The Washington Reporter, these rumors align with statements made by prominent Republicans, further fueling the speculation. Representative Tom Emmer (R-Minn.) voiced concerns over the possibility of Gensler’s nomination in a previous interview with The Reporter, warning that it could negatively impact the U.S. economy.
Emmer was particularly critical of Gensler’s tenure as SEC Chairman, accusing him of filing numerous lawsuits without success. "He’s been bringing lawsuits all over the place—and losing all over the place. That time’s past. Gary Gensler needs to move on. His career in government should be over," Emmer remarked.
If Harris becomes president, Republican Senate staffers are preparing for a coordinated effort to block Gensler's potential nomination. However, Gensler is expected to receive substantial backing from Democratic lawmakers, complicating any opposition.
Two key figures in the confirmation process could be Representatives Elissa Slotkin (D-Mich.) and Ruben Gallego (D-Ariz.). Both have strong records of opposing cryptocurrency regulation in Congress and have garnered support from Fairshake PAC, a pro-cryptocurrency group. While their positions on Gensler’s nomination remain uncertain, neither representative has responded to requests for comment, leaving their influence on the outcome still unknown.
