Big changes are coming! ๐จ Gary Gensler, the SEC chair known for his strict rules on crypto, is resigning. Here's what could happen next. ๐ฎ
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Gary Gensler, the head of the U.S. Securities and Exchange Commission (SEC), will resign on January 20, 2025 ๐ . He announced his decision to step down after Thanksgiving ๐ฆ, as Donald Trump is set to take office as President ๐บ๐ธ. Genslerโs time at the SEC has been controversial โ๏ธ, especially for his strict rules on cryptocurrencies ๐ธ. Many in the crypto industry felt his actions were too harsh and unclear โ ๏ธ.
His resignation has created hope ๐ for changes in SEC policies. Likely interim leaders, such as Hester Peirce ๐ฉโโ๏ธ, are considered more supportive of the crypto industry. This news has already boosted confidence in the market ๐, with cryptocurrencies like XRP ๐ rising in value. A less strict SEC approach may encourage innovation ๐ก while addressing regulatory concerns.
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