SEC’s Gary Gensler Will Be Gone by December 31, Says Expert
As speculation mounts about the future of SEC Chairman Gary Gensler, many are asking when he will resign and who might replace him. Interviewed by Thinking Crypto, the Digital Chamber’s Cody Carbone weighed in on the topic, suggesting that Gensler’s recent speech in New York could have been a subtle farewell speech. Carbone said many in the room felt the same way, and the atmosphere suggested Gensler may be preparing to exit the position.
Traditionally, SEC chairs resign when a new administration of a different party takes office, usually around November or December. He added: “I think his days are numbered. I wouldn’t be surprised if he leaves at the end of the day, if he leaves at the end of the week, or before the end of the year. But I think that’s what I’m looking for The timetable being considered – December 31st, I think he’s gone.”
Given the timing of the upcoming presidential inauguration, Carbone believes Gensler’s days in the SEC are numbered. He speculated that Gensler could leave as soon as this weekend or as late as Dec. 31.
“Historically, if a new administration of a different party takes office at this time (November, December), it’s standard practice for the SEC chairman to resign. So I don’t think he’s going to have any illusions on Inauguration Day, when Trump is sworn in Upon taking office, he will continue to work at the SEC or he is interested in being demoted to commissioner,” he said.
If Gensler does resign, the SEC may name an acting chairman. After the new administration takes office, the acting chair may be one of the Republican commissioners. The timing of Gensler’s departure remains uncertain, but a change in SEC leadership is expected, with a new chairman likely to take over in 2025.
Ripple and SEC:
The U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs in December 2020, accusing the company of raising more than $1.3 billion by selling unregistered securities through the sale of XRP. Now, according to the latest appeal, the entire process is expected to take several months, and there could be significant legal battles before a final decision is made. However, with a change in leadership, the picture may become clearer.
