SEC Chairman Gary Gensler Will Step Down Next Year
Chair Gary Gensler of the United States Securities and Exchange Commission (SEC) will be leaving the agency on January 20, 2025, according to a statement released on November 21.
This coincides with the start of President-elect Donald Trump’s second term, who has shown himself to be more supportive of crypto. Gensler expressed his gratitude for the opportunity to serve alongside his colleagues at the SEC and to protect the interests of ordinary Americans while maintaining the strength of the country’s capital markets.
In July, there were reports that Trump intended to remove Gensler from his position in order to appeal to crypto enthusiasts before the US presidential election on November 5. While the president does have the power to appoint the chair of the SEC, he does not have the authority to force a commissioner to leave the agency entirely like Gensler intends to do in January.
During Gensler’s time as SEC chair, which began in 2021, the agency has taken a tough stance on regulating cryptocurrency and has initiated more than 100 regulatory actions against companies in the industry.
