Reports suggest that Gary Gensler, Chair of the US Securities and Exchange Commission (SEC), may step down before Donald Trump assumes office in January.

Speculation around Gensler’s resignation follows growing backlash from the crypto community against his leadership at the regulatory agency.

Gensler Could Resign SEC Role Before January

On November 15, Fox Business reporter Eleanor Terrett hinted that Gensler could announce his resignation shortly after Thanksgiving.

“It’s anyone’s guess when his resignation announcement will come, but chatter in DC circles is that he’ll likely announce after Thanksgiving his intention to exit in early January, ahead of Trump’s inauguration,” Terrett said.

Notably, recent remarks from Gensler himself add to the speculation. In a Nov. 14 speech, he expressed pride in his service at the SEC, calling attention to the agency’s efforts to protect American investors. Gensler’s speech also included reflections on his tenure and what some interpreted as a farewell message.

“I’ve been proud to serve with my colleagues at the SEC who, day in and day out, work to protect American families on the highways of finance,” Gensler wrote.

During his leadership, the SEC approved the first spot crypto exchange-traded funds (ETFs), which Gensler described as a significant step forward. He positioned this as a contrast to prior administrations that had blocked similar advancements.

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Author: Oluwapelumi Adejumo