Trump promised to dismiss US Securities and Exchange Commission (SEC) Chairman Gary Gensler on his first day in office. This promise has raised expectations, especially among Ripple XRP and the crypto community, that current regulatory challenges may ease.

Ripple CEO Brad Garlinghouse called for the appointment of a crypto-friendly SEC chairman and stated that the appointment of names such as Dan Gallagher, Christopher Giancarlo and Brian Brooks instead of Gensler could have more positive results for the crypto industry.

Gensler has followed a very strict policy towards the crypto sector since he was appointed SEC chairman in April 2021. He targeted leading crypto companies such as Coinbase and Ripple, claiming that these companies were offering unregistered securities.

This harsh attitude, in particular, has long been criticized by the crypto industry and is thought to cause the USA to lag behind in the field of innovation.

Coinbase CEO Brian Armstrong stated in recent months that he owed Gensler an apology for the damage he caused to the crypto industry.

Under Gensler’s leadership, the SEC signed a $4.5 billion criminal settlement as a result of a historic settlement with Terraform Labs and its founder Do Kwon. Do Kwon has been detained in Montenegro since 2023.

According to a report by Crypto.news, by 2024, US regulators have fined crypto companies a total of $ 32 billion due to compliance issues. While these penalties pose a significant burden on the industry, crypto advocates are demanding clearer and fairer regulations.

Trump’s promises include creating leadership at the SEC that advocates for crypto-friendly regulations. It is thought that this change could open up more freedom for the crypto market in the USA.

While companies such as Ripple and Coinbase hope to face less pressure in the post-Gensler period, Trump is expected to open a new page for the industry by dismissing Gensler on the first day of his inauguration.

If Gensler resigns, a structure consisting of two Democrats and two Republicans will be formed in order to maintain balance in the SEC. This balance could lead to harsh regulatory pressures easing until a new president is confirmed.

This move by Trump could provide a more predictable regulatory environment for crypto companies in the US. The crypto industry needs a regulatory framework that will encourage innovation and protect investor rights.

Hopes are increasing that such an environment could emerge in the post-Gensler period. Considering that Trump has adopted a crypto-friendly management style, it seems likely that the sector’s contribution to the US economy will increase and blockchain technology will gain wider acceptance.

Trump’s crypto-friendly promises during his presidency are seen as a promising development for crypto companies such as Ripple to conduct their activities more safely in the USA.

With the appointment of a new SEC chairman, a more balanced and supportive regulatory structure in the crypto industry can be achieved, strengthening the US’s global leadership position in the crypto industry.