A Republican donor, Gallagherpreviously has faultedthe SEC for taking a scorched earth approach to crypto.
The SECs current chief Gary Gensler has received criticism from crypto proponents for applying existing securities laws to crypto.
Critics say existing securities laws are sufficient and the industry just wants to play by its own rules instead.
President-elect Trump is already evaluating pro-crypto candidates for top regulatory jobs.Bloomberg / Getty
If anyone showers enough praise on Trump, it seems hell have a change of heart.
Trump even has his own NFT trading cards.
The U.S. Treasury Department isconsidering sanctionsagainst Tether for enabling illicit activity.
With Tether, for example, Lutnick has publicly acknowledged that he manages many, many of their assets.
The currency is facingpotential sanctionsby the Treasury Department.
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