SEC Chair Gary Gensler to step down in January

Published On Nov 21, 2024, 3:04 PM

SEC Chair Gary Gensler has announced that he will resign from his position on January 20, 2025, coinciding with Inauguration Day for President-elect Trump. Gensler, who has faced criticism for his regulatory approach, especially towards cryptocurrencies, is set to leave before the end of his term, which was scheduled to expire in June 2026. His resignation will allow the new administration to nominate his successor. Gensler has emphasized his commitment to protecting investors and ensuring fair market conditions during his tenure.

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Gensler's resignation may signal a potential shift in regulatory approaches towards cryptocurrencies, possibly leading to less stringent oversight if a new chair with a more favorable view of crypto is appointed. This could positively affect the market sentiment around crypto-related assets and companies.

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