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Chairman of the U.S. Securities and Exchange Commission (SEC) Gary Gensler, known for his tough stance on cryptocurrency regulation, will leave the agency on January 20, 2025, according to an announcement on November 21 by the securities regulator.

Gensler will resign exactly on the day President-elect Donald Trump, who has a pro-cryptocurrency stance, begins his second term, according to the announcement.

SEC Chairman Gary Gensler officially announces he will resign

President-elect Donald Trump is said to be considering a cryptocurrency advisor position at the White House, and his team is currently interviewing candidates, but has not yet disclosed any prominent nominees.

According to a report from Bloomberg, Trump and his team are planning to introduce a first cryptocurrency position at the White House. He is said to be engaged in discussions with industry leaders to seek potential candidates. One of the most mentioned names is Brian Brooks, former head of Binance.US.

With a full-time crypto advisor at the White House, the Trump administration could push for positive regulations regarding cryptocurrency. During the campaign, Trump committed to implementing major reforms to the current U.S. cryptocurrency policy. His key initiatives include blocking anti-cryptocurrency moves in Congress, appointing industry allies to lead financial regulatory agencies, and establishing a Bitcoin reserve fund.