Chair of Securities and Exchange Commission, Gary Gensler, to Leave Position Early
The well-known head of the US Securities and Exchange Commission, Gary Gensler, has announced his early departure from the commission in the upcoming new year. In a statement released through X, Gensler revealed that he will be resigning as the chairman on January 20th, 2025. This news has sparked a wave of celebration among crypto enthusiasts on X.
This announcement comes following the recent Presidential election, which saw Donald Trump emerge victorious. Trump is scheduled to assume office on the same day as Gensler’s resignation, on Inauguration Day.
Throughout his term, Gensler has been labeled as a prominent adversary of the cryptocurrency market. This perception largely stems from the continuous regulatory actions taken against leading crypto companies.
Many individuals have frequently voiced concerns about the excessive regulation stifling innovation within the market. This sentiment was echoed by Daniel Gallagher, the General Counsel of Robinhood.
The situation is still evolving.