Key Points: Gary Gensler is expected to resign before Trump's inauguration, possibly after Thanksgiving.
The potential replacements for Gary Gensler are Mark Ujeda, Paul Atkins, and Brad Bondi, each of whom have different views on #cryptocurrency regulation.
GERI Gensler's resignation is expected as Sec Chairman Gary Gensler is likely to step down after Thanksgiving, which could open the door for a new chairman under the Trump administration.
Fox Business reporter Eleanor Telet reported that Gary Gensler, the current chairman of the U. S. Securities and Exchange Commission, will voluntarily step down before his term expires, which will be in 2026. According to sources, Gensler is expected to announce his resignation after Thanksgiving. His departure is scheduled to begin May 1, before Trump's inauguration. The resignation comes amid growing criticism of Gensler and his approach to regulating #cryptocurrencies .
But the resignation opens up a debate about his replacement. Nominees for the position have not yet been confirmed, but Paul Atkins, Robin Hood's legal director and a longtime SEC veteran, and Brad Bondi and Bob Stebbins, legal experts, have been selected as candidates. Cryptocurrency candidates such as Atkins and Bondi favor loosening the regulatory framework to match Trump's broad support for cryptocurrencies.
Gary Gensler's resignation could happen at any moment, so who could take over as head of the SEC is currently being hotly debated. Gallagher is said to be reluctant because of his current role in Robin Hood, but other candidates have risen to the top. Paul Atkins is a strong supporter of cryptocurrencies, serving on the board of directors of the Digital Chamber of Commerce and co-chair of the #Token Alliance. Brad Bondi, on the other hand, has consulted on several #DeFi projects and is considered a supporter of cryptocurrencies.
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