Trump prepares to appoint 'pro-crypto' personality to head SEC

President-elect Donald Trump has begun making moves to make good on his campaign promise to ease regulatory conditions in an effort to establish the United States as the cryptocurrency capital of the world.
On the 11th (local time), the Washington Post reported that President-elect Trump has declared himself the "Cryptocurrency President" and will appoint cryptocurrency-friendly individuals to major boards such as the Securities and Exchange Commission (SEC).
President-elect Trump is reportedly looking for someone friendly to cryptocurrencies to replace current SEC Chairman Gary Gensler, who he teased about being fired on his first day in office.
One of the leading candidates is former Robinhood member and former SEC commissioner Daniel Gallagher. Gallagher has criticized excessive regulation of cryptocurrencies.
Republicans Mark Ueda and Hester Pierce are also being considered as candidates. Pierce, in particular, was the SEC's first vice president at the start of the Trump administration.
The possibility of him serving as acting chairman has been raised, and he is attracting attention as a person who will lead Trump's cryptocurrency policy task force. Commissioner Ueda said, "If there are no suspicions of fraud or damage, I would not take crypto assets.
The Trump administration is expected to begin early discussions with financial regulators, including the SEC, and is expected to meet with cryptocurrency-friendly financial industry executives.
The move raises the possibility of creating a more flexible regulatory environment for the cryptocurrency industry in the United States.