SEC Chair Gary Gensler will step down on Jan. 20, 2025, praising the agency’s mission-driven staff for protecting investors. He called it an honor to serve and uphold the excellence of U.S. capital markets.
Gary Gensler, the Chair of the Securities and Exchange Commission, has declared his intention to retire on January 20, 2025. Gensler stated that the SEC is a “remarkable” agency with a “mission-driven” staff that is dedicated to safeguarding investors.
“The staff comprises true public servants,” according to him. “It has been an honor of a lifetime to serve with them on behalf of everyday Americans and ensure that our capital markets remain the best in the world,” according to Gensler.
Dan Gallagher, Robinhood’s chief legal officer, is presently the leading candidate to succeed Genser, according to U.Today. Nevertheless, there are other competitors.
Gary Gensler’s Tenure
Gensler’s tenure was characterized by his vigorous pursuit of legal action against prominent cryptocurrency firms, including Ripple, Coinbase, and Binance. It is widely anticipated that the subsequent SEC chief will implement a policy that is more favorable to cryptocurrency.
The price of Bitcoin has reclaimed the $98,000 level in response to Gensler’s resignation statement. The dominant cryptocurrency achieved a new record high of $98,310 earlier today.
