Who is the chairman of the US Securities and Exchange Commission (SEC),
Gary Gensler, known for his tough stance on crypto regulation, will leave his post on January 20, 2025, the financial regulator announced in a statement on November 21.
Gensler is set to leave the agency on the same day that President-elect Donald Trump, a known supporter of cryptocurrencies, begins his second term, according to the statement.
“It has been a great honor to work with them on behalf of ordinary Americans and to ensure that our capital markets remain the best in the world,” Gensler said in a statement.
Trump had vowed in July to “fire” Gensler in an attempt to woo crypto supporters ahead of the November 5 US presidential election.
The president has the power to choose a new SEC chairman, but he cannot force the commissioner to leave the agency entirely, as Gensler plans to do in January.
