Gemini co-founder Tyler Winklevoss calls for the US government to announce the next SEC chair before the upcoming election, emphasizing the need for regulatory clarity in the crypto industry.
Points
- Tyler Winklevoss demands the announcement of the next SEC chair before the US election.
- Criticizes current administration’s stance on crypto.
- Highlights importance of regulatory clarity for the crypto industry.
Gemini co-founder Tyler Winklevoss has called on the US government to announce the next chair of the Securities and Exchange Commission （SEC） before the upcoming election. Winklevoss emphasized the need for regulatory clarity in the crypto industry and criticized the current administration’s stance.
In a lengthy X post on July
26, Winklevoss argued that the crypto industry deserves to know who will be leading the securities watchdog ahead of the US election. He claimed that President Joe Biden’s administration has not done enough to reset its relationship with the crypto sector and that transparency about future leadership is crucial.
Demand for Regulatory Clarity
“We should demand to know, among other things, who the next chair of the SEC is before we head to the ballot box,” Winklevoss declared. He criticized the administration for uninviting him and his brother Cameron Winklevoss from a recent White House event due to their endorsement of Donald Trump, suggesting that this move reflects the administration’s stance on crypto.
Winklevoss believes that demanding action from the government before November is a non-partisan issue and crucial for the crypto industry’s future. He highlighted the need for the SEC to be led by a regulator who understands and supports innovation in digital assets.
Controversy Surrounding Current SEC Chair Gary Gensler
Current SEC Chair Gary Gensler has been a controversial figure in the crypto industry since his appointment in February 2021. His five-year term ends in June 2026. Gensler has made several statements and decisions viewed as anti-crypto, leading to significant criticism from the industry.
Crypto Events and Political Influence
Winklevoss also expressed hope that politicians would stop attending Bitcoin and crypto conferences, indicating that crypto should become mainstream enough not to need debate. He compared this to attending a conference to debate the legality of email or the internet.
The post came during the Bitcoin 2024 conference in Nashville, Tennessee, where various politicians, including independent presidential candidate Robert F. Kennedy Jr., Senator Cynthia Lummis, and Senator Tim Scott, made appearances. Former President Donald Trump is set to headline the event on July 27.
Winklevoss’s call for clarity highlights the ongoing tension between the crypto industry and regulatory authorities. As the US election approaches, the crypto community is keenly watching for any signs of regulatory changes that could impact the sector’s future.