As a seasoned crypto investor with a keen eye for regulatory developments, I must admit that Gary Gensler’s departure from the SEC is bittersweet news. While his tenure was marked by a tough stance on cryptocurrencies, it also ensured a level of stability and legitimacy to our burgeoning industry.
On Thursday, Gary Gensler, who currently holds the position as chair of the United States Securities and Exchange Commission (SEC), announced his intention to resign effective from January.
- Gensler confirmed the news in an announcement on Twitter and a post to the SEC’s website, saying it had been an “honor of a lifetime” to “ensure that our capital markets remain the best in the world.”
- “I thank President Biden for entrusting me with this incredible responsibility,” Gensler added. “The SEC has met our mission and enforced the law without fear or favor.”
- Gensler was highly unpopular among the crypto community for his long list of enforcement actions against the industry’s leaders, and unwillingness to encourage more accommodating rules for the new asset class.
- Donald Trump promised to fire Gensler in July, and has since been elected the 47th U.S. President.
- Bitcoin rose to $98,200 following Gensler’s announcement.
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2024-11-21 21:30