Gary Gensler to Resign as SEC Chair on January 20, 2025
Gary Gensler, head of the Securities and Exchange Commission (SEC) since 2021, announced his resignation effective January 20, 2025. His term was originally set to conclude in June 2026.
In a statement, Gensler emphasized the SEC's commitment to protecting investors and facilitating capital formation: “The staff comprises true public servants.”
This announcement coincides with President-elect Donald Trump's campaign promise to dismiss Gensler on the first day of his second term, which experts note may be legally ambiguous.
Gensler’s tenure included a notable increase in cryptocurrency enforcement actions, with over 90 cases initiated between 2021 and 2023, primarily concerning alleged unregistered securities offerings. He stated, “Everything we’ve done is focused on ensuring compliance with our laws,” highlighting the importance of investor protection and market trust.
The SEC's ongoing legal actions against crypto exchanges Coinbase and Binance are expected to persist under the incoming chair, although there may be requests for dismissal from agency staff, subject to court approval.
Speculation regarding Trump’s potential SEC chair appointment has circulated, with reports suggesting Commissioner Mark Uyeda may serve as acting chair following the inauguration.