Trump hints at bypassing the Senate, which may affect the appointment of the SEC chairman.

Recently, former President Trump hinted that he might take unconventional measures to assemble a new government team, which could affect the position of the current SEC chairman. Trump expressed on social media that he has the authority to decide who will serve as the Senate Majority Leader in the next Congress. He hopes that the future Majority Leader will support appointments during Congress's recess to bypass the normal confirmation process, allowing new members to take office quickly without going through the cumbersome questioning and review process.

The U.S. Constitution grants the president the power to fill vacancies during Senate recesses. While this method of appointment is temporary, it was used during Trump's first term to arrange for some candidates who might have been difficult to obtain Senate approval. It is worth noting that such recess appointments do not fully replace the formal approval process of the Senate. Currently, Trump has not publicly nominated anyone to succeed the current SEC chairman.

During the campaign, Trump made a promise to the cryptocurrency industry, stating that if he was elected again, he would remove the current SEC chairman on his first day in office. However, legal experts pointed out that without just cause, the president does not have the authority to directly replace SEC commissioners. Typically, when there is a change in the White House, some heads of regulatory agencies choose to resign voluntarily, but the current SEC chairman has not indicated any intention to leave.

This series of dynamics has raised concerns about the future direction of financial regulation in the United States, especially regarding policies in emerging financial fields such as cryptocurrency. Regardless of the final outcome, this potential personnel change could have far-reaching effects on the U.S. financial markets.