U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler will likely hand in his resignation before President-elect Donald Trump’s inauguration next year, according to a former official of the agency.
During an Ask Me Anything (AMA) session on social media platform X, former head of the SEC’s Office of Internet Enforcement John Reed Stark says that like most of the regulators’ chairs he has worked with, Gensler will likely leave his post following Trump’s victory in the presidential election.
“Most of the time, they just resigned because they know that a new chair is going to be appointed.”
Stark speculates that SEC Commissioner Hester Peirce, who has been vocally pro-crypto and critical of the regulator’s restrictive stance on the industry, could be the next chair.
“The president will immediately appoint someone to be acting chair and that would usually be the senior member of that party, so in this case, that would be Hester Peirce since she has been there longer.”
Under Gensler, the SEC launched regulatory actions against Coinbase, Uniswap Labs, Binance and others.
Stark says a friendlier regulatory approach is coming to crypto with the election of the Trump administration.
“Does this mean that the SEC’s war on crypto is over? I would say absolutely with a resounding yes that the SEC is not going to be bringing many cases against cryptoverse participants at all in the coming years.”
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