US Securities and Exchange Commission (SEC) Chairman Gary Gensler is likely to resign before President-elect Donald Trump’s inauguration next year, a former agency official said.
During an Ask Me Anything (AMA) session on social media platform from Trump. in the presidential elections.
“Most of the time they just resigned because they knew there would be a new chairman.”
Stark speculates that SEC Commissioner Hester Peirce, who has been outspokenly pro-crypto and critical of the regulator’s restrictive stance on the sector, could be the next chairman.
“The president will immediately appoint someone as acting chairman and that will usually be the senior member of that party, so in this case it would be Hester Peirce as she has been there longer.”
Under Gensler, the SEC launched regulatory actions against Coinbase, Uniswap Labs, Binance and others.
Stark says that with the election of the Trump administration, there will be a friendlier regulatory approach to crypto.
“Does this mean the SEC’s war on crypto is over? I would definitely say a resounding yes that the SEC will not be bringing many cases against cryptoverse participants at all in the coming years.”
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