SEC Chairman Gary Gensler to Step Down in 2025
Gary Gensler, the controversial head of the US Securities and Exchange Commission, has announced his upcoming departure from the commission in the new year. In a statement released recently, Gensler disclosed that he would be resigning from his position as chairman on January 20, 2025. This news has prompted many in the crypto community to express their joy and relief.
This announcement coincides with the aftermath of the recent Presidential election, with Donald Trump emerging as the victor. Interestingly, Gensler’s resignation date aligns with the Presidential Inauguration Day.
Throughout his term, Gensler has been viewed as a formidable opponent of the crypto market, primarily due to the continual regulatory actions taken against prominent crypto companies. Critics have argued that the stringent regulations imposed under his leadership have impeded innovation, a sentiment echoed by Daniel Gallagher, Robinhood’s Chief Legal Officer.