According to Odaily Planet Daily, U.S. Congressman French Hill said that Republican SEC Commissioner Hester Peirce may become the new acting chairman of the U.S. SEC. Hill said that Gary Gensler will step down on January 20 next year, when the Republicans will take over.
Hill expressed disappointment with Gensler’s impending departure, calling his approach to regulating the crypto ecosystem “enforcement regulation” and believing that Gensler’s views on the crypto industry were inconsistent. Hill added that the SEC cannot solve the problems of the U.S. crypto industry alone, and Congress must work with the SEC to pass laws to ensure fair enforcement of digital assets.