- Gary Gensler’s departure as SEC Chair sparks mixed reactions, with some praising his enforcement actions and others calling for clearer regulation of the crypto industry.
- With Trump’s inauguration, the U.S. may see a shift toward crypto-friendly leadership, with potential changes in key regulatory roles and the creation of a White House position for crypto policy.
Gary Gensler, the controversial chair of the U.S. Securities and Exchange Commission (SEC), will leave his position on January 20, 2025. This could impact the SEC’s stance, sparking mixed reactions. Following a previous CNF update, some lawmakers support Gensler’s actions, while others push for regulatory clarity.
This departure coincides with the inauguration of crypto-friendly President-elect Donald Trump for his second term. Known for his strict enforcement of cryptocurrency regulations, Gensler reflected on his tenure, calling it an honor to protect the integrity of U.S. capital markets.
In his personal X account, he also announced his departure, stating On January 20, 2025, He will be stepping down as SEC Chair.
On January 20, 2025 I will be stepping down as @SECGov Chair.
A thread 🧵⬇️
— Gary Gensler (@GaryGensler) November 21, 2024
A Polarizing Tenure on Crypto Oversight
Since assuming office in 2021, Gensler led the SEC in pursuing over 100 enforcement actions against cryptocurrency firms. Despite approving Bitcoin spot ETFs to showcase cooperation with the industry, he maintained a tough stance, urging issuers of approximately 10,000 tokens to register and disclose critical information.
His aggressive approach often clashed with the crypto community, drawing criticism and calls for more balanced regulation.
Trump’s Vision for a Crypto-Friendly America
Furthermore, Trump, who has expressed ambitions to make the U.S. the global hub for cryptocurrency, vowed to replace Gensler with pro-industry leadership. Reports suggest Summer Mersinger, a Republican commissioner at the Commodity Futures Trading Commission (CFTC), is being considered for a key regulatory role.
Additionally, Trump may establish a dedicated White House position for crypto policy, signaling a potential shift in the U.S. government’s approach to the digital asset space. As of now, according to CoinMarketCap data, Bitcoin (BTC) is trading at $98,967.25, having surged by 1.73% in the past day and 12.74% in the past week.
