Gary Gensler to Resign as SEC Chair

Gary Gensler, the current Chair of the U.S. Securities and Exchange Commission (SEC), has announced his resignation effective January 20, coinciding with Donald Trump's inauguration. Gensler's term, which began in April 2021 under President Biden, was marked by aggressive regulatory actions against cryptocurrencies, leading to high-profile lawsuits against major firms like Coinbase and Binance. His departure opens the door for Trump to appoint a successor who is expected to adopt a more crypto-friendly stance and potentially ease regulatory pressures on the digital asset market. Speculation surrounds candidates such as Paul Atkins and former SEC officials who align with Trump's pro-crypto agenda. Gensler's exit comes as Bitcoin reaches a record high, reflecting the changing dynamics in the crypto landscape amidst upcoming leadership shifts at the SEC. The transition signifies a potential pivot in U.S. regulatory policy towards cryptocurrencies, which have gained significant political influence in recent elections.