Legal experts: Trump's promise to fire SEC chairman on first day in office may face obstacles

Tonya Evans, a professor at the Dickinson School of Law at Pennsylvania State University, pointed out that Trump declared at the Bitcoin 2024 conference that if elected president, he would fire Gary Gensler, chairman of the U.S. Securities and Exchange Commission, on the first day and push the federal government to hold Bitcoin. However, the promise to fire Gensler faces many obstacles. It is reported that the dismissal procedure is very complicated, and Trump must prove that Gary Gensler has been inefficient, derelict of duty, or malfeasance before the dismissal procedure can be initiated. Although some politicians and crypto industry representatives believe that Gensler's performance is poor and that there is reason to fire him, the entire process may take months, even longer than Gary Gensler's five-year term. Therefore, unless Gary Gensler resigns on the first day, his departure will not be realized quickly. (Fortune)