Gary Gensler, the current chairman of the US Securities and Exchange Commission (SEC), recently announced that he will be stepping down from his position on January 20th. This will create a more friendly environment for the cryptocurrency market. Gary Gensler has been known for his hard-line approach to regulating cryptocurrencies during his tenure as the SEC chairman.
However, his resignation has been a relief for the market, especially for the Ripple, which has seen a 62% increase in price over the past 90 days. The SEC has been criticized for their attempts at regulation, as some decisions have been found to be excessive and unnecessary. Gary Gensler’s resignation could potentially lead to a less strict leader taking the helm at the SEC, which may have a positive effect on the cryptocurrency market.
The future of the SEC under new leadership is uncertain, but it is hoped that they will find a balance between regulation and allowing the market to flourish.
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<p>The post Gary Gensler Steps Down as SEC Chairman: Impact on Cryptocurrency Regulation first appeared on CoinBuzzFeed.</p>
