The Lawyer, known as MetaLawMan (James Murphy) on Twitter, thinks that US Securities and Exchange Commission (SEC) Chairman Gary Gensler will resign after Donald Trump is elected president this year.
Similar Resignations in the Past
Citing a trend in history, Murphy stated that SEC Chairman Mary Jo White resigned after Trump’s election in 2016, and Jay Clayton left office after Biden’s 2020 victory. He says these past examples suggest Gensler will act similarly.
While he was chairman of the SEC, Gensler took important initiatives such as strict regulations and climate statements for the cryptocurrency industry. While these policies are criticized by some business circles and crypto entrepreneurs, it is claimed that Gensler’s resignation may pave the way for the change of these policies.
Opinions of Other Experts
Apart from Murphy, we have also seen previous SEC executives expressing their opinion that a similar step would be taken. Stark was one of them. SEC chairmen have been known to resign in the past when a new administration arrives.
An SEC spokesman said that under Gensler, the commission had one of its most productive periods in its 90-year history and increased investor protection. This statement triggered discussions about how Gensler’s resignation would affect the future direction of the SEC.
Although SEC Chairman Gensler’s term has been confirmed until 2026, his tendency to resign when a new administration takes office in the government, as in the past, gives hope to cryptocurrency investors. If he does not resign, Trump may try options such as moving him to a different position at the SEC or forcing him to resign and going to court. Considering that the SEC’s Head of Enforcement Division has recently resigned, Gensler is expected to not insist too much. Maybe he gets appointed as an advisor to one of the major crypto companies?
As a result, the decisions taken and policies implemented during the SEC Presidency are expected to change with the new administration. Gensler’s resignation could reshape the SEC’s future strategies and lead to new regulations on the cryptocurrency industry.
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.
