The foreign media "Unchained" reported, citing two sources familiar with the matter, that the campaign team of Democratic presidential candidate Ho Kin lee is reviewing potential candidates for the position of Chairman of the Securities and Exchange Commission (SEC) to replace the controversial current Chairman Gary Gensler.

He Jinli's two SEC chairman candidates

The report points out that Chris Brummer, a professor at Georgetown University Law School, and Erica Williams, chairman of the Public Company Accounting Oversight Board (PCAOB), are the two most likely potential candidates. It is reported that these two individuals have a more friendly view of cryptocurrency than Gary Gensler.

Chris Brummer founded a company called Bluprynt this spring, focusing on regulatory compliance for cryptocurrency companies, particularly within the framework of the European Cryptocurrency Regulatory Act MiCA. A source familiar with Chris Brummer but unsure if he is currently under review as SEC chairman said:

From a seniority perspective, Chris Brummer is more suitable to serve as chairman than Gary Gensler, and he will be the biggest peace proposal put forward by the He Jinli campaign team to cryptocurrency

As the Chairman of PCAOB, Erica Williams' main responsibilities include collaborating with the SEC to protect investors, registering companies preparing audit reports, setting audit standards, and investigating and punishing companies that violate these rules and laws.

A source stated that both Chris Brummer and Erica Williams have a progressive vision for financial regulation and will support cryptocurrency legislation, but will also strictly pursue illegal activities in the field. They also added that both of them are known for their kind work attitude, in stark contrast to Gary Gensler, who is considered difficult to work with by many direct subordinates.

However, Unchained also emphasized in the report that He Jinli has not publicly or privately promised to replace Gary Gensler, and it is currently uncertain whether she is seriously considering this issue. Sources said:

At present, it is unclear who the popular candidate is. The campaign team of He Jinli is concerned that being too active in supporting cryptocurrency before the election will cause her to lose votes from progressive voters who believe that cryptocurrency is a 'scam', rather than winning new swing state voters for her

And a spokesperson for He Jinli's campaign team also stated:

The transition team will not make any personnel appointments before the election. Our current focus is on establishing the necessary infrastructure to prepare

Potential choices for the Republican Party

On the other hand, Republican candidate Trump had promised that if he was elected, he would dismiss the chairman of the SEC on the first day of office. According to reports, Robinhood Attorney General Dan Gallagher is the best candidate appointed by the Republican Party to succeed as SEC Chairman.

Dan Gallagher's background gives him enough experience to be competent for this position. He served as a member of the Republican Securities and Exchange Commission during the Obama administration and as an advisor to several Republican appointees during the Bush presidency. Now, he is leading some of Robinhood's cryptocurrency projects amidst regulatory headwinds.

When asked to comment, Dan Gallagher said:

I am honored to have my name on the discussion about who may become the next SEC chairman. I am very concerned about this institution, and my expectation for any new SEC chairman is that they can promote market access and ensure that the United States remains at the forefront of financial innovation