Gary Gensler, the U.S. Securities and Exchange Commission’s (SEC) chairman after almost four years of service is leaving his regulatory role. Donald Trump will be the immediate successor.
Under Gensler, the SEC was known as a regulator that enforced its regulations.
During Gensler’s tenure, the Securities Watchdog took high-profile actions to enforce its rules against a number of crypto companies, such as Binance, Kraken Coinbase Ripple Labs Uniswap Labs Consensys.
Gensler will be stepping down from his position on the day of Trump’s Inauguration.
In a recent statement the SEC said:
The Securities and Exchange Commission announced today that Gary Gensler will step down as its 33rd chair at 12 noon on 20 January 2025. Gensler took up his position on April 17th, 2021 in response to the GameStop events .”.
Gensler, as the new head of the SEC, is continuing the efforts started by Jay Clayton in protecting investors on the crypto market.
Gensler announced his resignation in a series on the social media platform X and expressed his gratitude to SEC staff and management.
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As new information becomes available, this post Trump To Replace Gary Gensler Quickly After SEC Chairman Announces His Departure might be updated.
