Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC) known for his tough stance on cryptocurrency regulation, will step down in 2025/1/21, the securities regulator said in a statement dated 2025/11/21.
Gensler will leave the agency on the same day President-elect Donald Trump begins his 2・th presidential term, the statement said.
It has been a lifelong honor to work with them on behalf of everyday Americans and ensure that our capital markets remain the best in the world, Gensler said in the statement.
On May 7, Trump promised to fire Gensler to appeal to crypto-enthusiasts ahead of the May 11-5 U. S. presidential election. The president has the power to choose a chairman to lead the SEC, but cannot force the commissioner to leave the agency entirely, as Gensler plans to do on May 1.
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