There is a lot of talk that SEC Chair Gary Gensler might step down soon now that Donald Trump has won the 2024 presidential election. 🏛️🇺🇸 James Murphy, a well-known lawyer for XRP, believes Gensler will follow a pattern seen in past elections: when Trump won in 2016, the SEC chair at the time, Mary Jo White, resigned, and when Biden won in 2020, then-SEC chair Jay Clayton did the same. 🔄 Murphy thinks Gensler might do the same and leave before Trump officially takes office in 2025. 📅
Former SEC official John Reed Stark also believes Gensler could resign soon. 🕒 He thinks that if Gensler steps down, Hester Peirce, who is known for being friendlier toward cryptocurrencies 💱, might take his place. Stark says that Trump’s administration might choose someone who is more open to the crypto industry than Gensler has been. 💼💡 If Peirce or someone like her steps in, it could lead to fewer restrictions on cryptocurrency businesses 🚀 and a change in the SEC's current approach to the industry. 📉🔄
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