Securities and Exchange Commission (SEC) Chair Gary Gensler has announced that he will resign from his role effective January 20.
Since assuming his position, Gensler has spearheaded the SEC’s stringent oversight efforts, particularly concerning cryptocurrencies and various regulatory matters.
During his campaign, President-elect Donald Trump indicated his intent to dismiss Gensler, who has been at the forefront of the government’s initiatives against the cryptocurrency sector and has persistently advocated for increased regulation.
As Gensler prepares to leave his position coinciding with Trump’s inauguration, the cryptocurrency market has seen significant fluctuations, with Bitcoin surging by 40% following Trump’s electoral win.
Throughout his leadership, Gensler oversaw the SEC’s implementation of vital improvements to the $28 trillion U.S. Treasury markets, alongside the first major updates to the $55 trillion U.S. equity markets in nearly two decades, as well as various enhancements surrounding corporate governance.
Gensler has held his role since April 2021, marking a transformative period for the commission.