When Can We Expect Gensler’s Resignation and a Crypto-Friendly SEC Under Trump?
Donald Trump’s win in the 2024 U.S. Presidential election has sparked renewed speculation about the future of SEC Chair Gary Gensler.
A recent analysis points to the possibility of Gensler stepping down within the next few months, potentially aligning with Trump’s earlier statements about removing him on his first day in office. This shift would follow a common pattern of SEC chairs resigning when a new president takes office, allowing the incoming administration to appoint a figure more in line with their policies.
According to a report from 10X Research, Gensler may leave the position as early as December or January. This would mirror the transitions seen in previous administrations, such as when Jay Clayton resigned under Trump’s first term, allowing Gensler to take over in 2021.
Should Gensler depart, the vacancy could be filled by a new chair, with a possible confirmation by the spring of 2025, just as Trump has hinted at replacing Gensler with someone more sympathetic to the cryptocurrency sector.
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The crypto community has been hopeful that Trump’s victory could signal a more crypto-friendly direction for the SEC. Under Gensler’s leadership, the SEC has faced criticism for its stringent enforcement actions against crypto firms, which many see as a hindrance to innovation.
With Trump’s support for the digital asset space, there is growing optimism that his appointed SEC chair could ease regulations, offering clearer guidelines and a more balanced approach that fosters industry growth. Market reactions, including Bitcoin’s recent surge, suggest that many believe the new administration could bring about positive changes for the crypto sector.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
