Gensler Resigns; Trump Signals Pro-Crypto SEC Shift

Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), has announced his resignation effective January 20, aligning with President-elect Donald Trump's inauguration. Gensler's tenure has been marked by aggressive regulatory actions, particularly against the cryptocurrency industry, leading to numerous enforcement actions against major crypto companies like Binance and Coinbase. His departure is seen as a pivotal moment for the crypto community, which has criticized his stringent regulations and is optimistic about potential new, more favorable leadership under Trump. Trump's administration has indicated a pro-crypto stance, with promises of a national strategic Bitcoin stockpile and possibly a more crypto-friendly SEC chair. Speculation abounds regarding Gensler's successor, with potential candidates including former SEC officials and crypto advocates. Gensler leaves behind a legacy of robust enforcement and controversial rulemaking, especially in the crypto sector.