Current U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler is likely to hand in his resignation before President-elect Donald Trump’s inauguration next year, according to a former SEC official. During an Ask Me Anything (AMA) session on social media platform X, former SEC Office of Internet Enforcement chief John Reed Stark said that like most regulator chiefs he has worked with, Gensler is likely to step down after Trump’s victory in the presidential election.

“Often they resign because they know there’s going to be a new chairman appointed,” Stark said. Stark also said a friendlier regulatory approach to crypto will come with the election of the Trump administration. “Does this mean the SEC’s war on crypto is over? I would say for sure that the SEC will not be filing many cases against cryptoverse participants at all in the years to come,” Stark explained.