BCGAME - Free 5BTC Daily Bonus!- Gary Gensler announces resignation from SEC in 2025
- Change in line with Trump's inauguration
- Possible relaxation of rules for cryptos
SEC Chairman Gary Gensler has revealed his plans to step down from his position, timed to coincide with the inauguration of re-elected President Donald Trump on January 20. The news came as a surprise and was met with enthusiasm by many in the cryptocurrency space.
On January 20, 2025 I will be stepping down as @SECGov Chair.
The thread 🧵⬇️
— Gary Gensler (@GaryGensler) November 21, 2024
During his tenure that began in April 2021, Gensler was known for his tough stance on cryptocurrency industry regulations, engaging in enforcement actions against market giants such as Coinbase, Binance and Kraken.
“I thank President Biden for entrusting me with this incredible responsibility,” Gensler said. “The SEC has fulfilled our mission and enforced the law without fear or favor… I also thank Congress, my colleagues in the U.S. government, and fellow regulators around the world.”
Gensler’s departure follows promises made by Trump during his re-election campaign, where he pledged to review U.S. policies on cryptocurrencies and consider new leadership for the SEC. Gensler’s resignation is seen as a direct response to the political environment that Trump’s re-election has created, which is perceived as more favorable to cryptocurrencies.
Analysts like Terrett have commented on the impacts of this transition. “Donald Trump’s reelection campaign was a catalyst for recent developments,” Terrett said. Gensler’s departure is interpreted by many as a possible beginning of a more flexible and promising era for cryptocurrency regulations under new leadership at the SEC.
The cryptocurrency industry, often on edge about regulatory changes, is now looking to the future with hope, anticipating a less hostile environment under the Trump administration.
At the time of publication, the price of Bitcoin was quoted at US$98.300,00, up 5% in the last 24 hours.
