Trump's election may boost crypto sector despite Gensler's position at SEC

A new report indicates that President-elect Donald Trump's return to office may benefit the cryptocurrency sector, although he cannot fire SEC Chair Gary Gensler. Trump can appoint a pro-crypto commissioner to lead the SEC instead. With Trump's electoral win and new congressional majorities, policies may shift to ease regulations for crypto. His administration includes several crypto advocates, which could lead to significant changes in regulatory approaches. The report suggests potential leadership changes at key financial agencies, allowing banks to engage more with digital assets. This could attract institutional investors and enhance the crypto industry's mainstream acceptance.