The success of Donald Trump, who won the 2024 United States Presidential election, triggered speculation about the future of SEC Chairman Gary Gensler. Latest reports indicate that the head of the institution may resign later this year. This development appears to be in line with Trump’s previous promise to dismiss Gensler when he takes office.
When is Gensler’s resignation?
The report by 10X Research suggests that SEC Chairman Gary Gensler could resign next December or January. This is in keeping with the tradition of SEC chairmen resigning after a new chairman takes office.
For example, Jay Clayton, who was appointed while Trump was in office, resigned in December 2020, paving the way for Gensler’s confirmation under the Biden administration. Similarly, Obama appointee Mary Jo White resigned on the day of Trump’s 2017 election victory.
Trump’s Victory and Crypto
The crypto community viewed Gensler as a restrictive figure due to the strict SEC regulations he implemented against various crypto firms. The expectation that the Trump administration will appoint a more crypto-friendly SEC chairman is creating a positive impact on the market.
Bitcoin 
$73,968 The price continues to set new ATH levels at the time of writing. The price, which rose up to $75,800, is preparing for more. Analysts say that the president who replaces Gensler may take a more balanced approach to crypto regulations.
Trump’s vocal support for the crypto industry during the campaign further increased market optimism. During Gensler’s tenure, the SEC has been roundly criticized by crypto advocates, and with Trump’s influence, the SEC is expected to take a more flexible regulatory stance.
Expectations After Gensler’s Resignation
Gensler’s departure will open up the opportunity for Trump to appoint a crypto-friendly SEC chairman. This appointment can contribute to adopting a constructive approach in crypto regulations and supporting innovations in the sector.
With the new chairman of the SEC, fewer cases and clearer regulations regarding crypto assets are expected. This can create a more predictable and supportive environment for actors in the industry.
Trump’s election could have significant impacts on the SEC and crypto markets. The appointment of a new SEC chairman appears to play a critical role for the future of the crypto industry. In this process, it is important for actors in the sector to be prepared for possible changes.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
