Gary Gensler to Step Down as SEC Chair Before Trump Arrives
According to an announcement issued by the SEC on Thursday, Gary Gensler will resign as SEC Chairman on January 20, 2025.
Since taking office in April 2021, Gensler has spearheaded a number of challenging regulatory initiatives targeting the crypto industry. He introduced reforms to executive compensation linked to company performance and strengthened protections for investors in the cryptocurrency market.
Gary Gensler remains committed to his anti-crypto stance
Gensler’s four-year term was marked by strong enforcement actions against the cryptocurrency industry. Gensler delivered a speech last week that was widely interpreted as a farewell. He remains steadfast in his controversial cryptocurrency policies.
He has been critical of the crypto industry, describing it as a source of “significant harm to investors.” Despite his approval Bitcoin ETFa stance that has made him a divisive figure in the field.
Gary Gensler Several enforcement actions were taken against major players including Coinbase, Binance, and Kraken.
During his tenure at the SEC, Gensler maintained that most cryptocurrencies were securities. He repeatedly warned Cryptocurrency Company obey Current regulations By registering with the agency.
“The SEC is an incredible agency. The staff and Commission are mission-driven and focused on protecting investors, promoting capital formation, and ensuring markets work for investors and issuers.” Gensler wrote on X (formerly Twitter).
Gensler’s Departure announcement President-elect Donald Trump previously vowed to fire him if re-elected. Earlier this month, Tron founder Justin Sun jokingly extended Career Opportunities at Genslerif he wants to go into a business he disapproves of.
In addition, Trump also promised to comprehensively crack down on Changes in Cryptocurrency Regulationstargeting federal agencies and legislative frameworks. As BeInCrypto reported earlier, the president-elect is considering Three pro-cryptocurrency candidates replace Gensler.
Additionally, Trump reportedly plans to create a Permanent Cryptocurrency Consultant Jobs for the White House. While details remain vague, his team is said to have been interviewing candidates for the position.
Overall, the SEC’s stance on cryptocurrencies may get better with Gensler’s resignation. The market has reacted positively to the news, with Bitcoin surpassing $98,000 in the past hour.
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