Chair

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April

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Gary Gensler, Chair of the U.S. Securities and Exchange Commission, has announced his resignation, effective January 20, 2025.&nbsp; 
Gensler’s departure coincides with President-elect <a href="https://crypto.news/tag/donald-trump/" target="_blank">Donald Trump’s</a> inauguration 
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Gensler, who assumed office in April 2021, <a href="https://www.sec.gov/newsroom/press-releases/2024-182" target="_blank" rel="nofollow">described</a> his tenure as “the honor of a lifetime,” citing achievements such as advancing central clearing in Treasury markets and reforming executive pay standards. 
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<h2 class="wp-block-heading" id="gary-gensler-vs-crypto">Gary Gensler vs. Crypto</h2> 
Biden-appointed Gensler has vocally <a href="https://crypto.news/secs-gensler-crypto-should-comply-with-securities-laws/" target="_blank">expressed skepticism</a> toward crypto regulation. He came out <a href="https://crypto.news/fit21-act-opposed-by-secs-gensler-cites-risks-to-investors-and-markets/" target="_blank">forcefully against the FIT21</a> bill after it was passed in the House.&nbsp; 
His term was marked by an aggressive stance toward the crypto industry, leading enforcement actions against major platforms like <a href="https://crypto.news/tag/Coinbase/" target="_blank">Coinbase</a>, <a href="https://crypto.news/tag/Binance" target="_blank">Binance</a>, and <a rel="" href="https://crypto.news/tag/Kraken">Kraken</a> for alleged securities law violations. 
The crypto industry mostly views Gensler with skepticism and frustration. Many believe his strict <a href="https://crypto.news/sec-chairman-gensler-compares-crypto-industry-to-wild-west/" target="_blank">enforcement approach</a> and classifying most crypto assets as securities have stifled innovation and created legal uncertainty​. 
Gensler’s tenure <a href="https://crypto.news/top-gop-lawmakers-scrutinize-secs-gensler-on-hiring/" target="_blank">faced</a> bipartisan pushback, particularly regarding the SEC’s handling of digital assets.&nbsp; 
Potential successors include prominent figures in the crypto and financial sectors, such as <a href="https://crypto.news/former-binance-u-s-ceo-brooks-named-potential-sec-chairman-candidate/" target="_blank">Brian Brooks</a>, former Acting Comptroller of the Currency, and <a href="https://crypto.news/trump-favors-crypto-lawyer-and-former-sec-attorney-teresa-goody-guillen-to-head-sec/" target="_blank">Teresa Goody Guillén</a>, a former SEC attorney. 
During Gensler’s tenure, the SEC also approved its first spot Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank">BTC</a>) exchange-traded products, a major milestone for the crypto sector following years of delays. While the decision was driven partly by a court ruling, Gensler faced criticism for his initial resistance to these products. 
With Trump’s pro-crypto rhetoric gaining momentum, Gensler’s resignation could mark a pivotal moment for the crypto industry. The market has already seen a notable uptick since the news broke. 
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Anti-crypto Gary Gensler to resign from SEC when Trump takes office

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