Crypto critic Gary Gensler to leave the SEC: who will replace him?

The US Securities and Exchange Commission (SEC) has officially said announced that its 33rd chairman, Gary Gensler, will step down on January 20, 2025. Gensler took over as SEC chairman on April 17, 2021, following the events, associated with GameStophas implemented important reforms aimed at improving the efficiency, resilience and integrity of the U.S. capital markets.

«SEC — is an extraordinary agency. Working for investors and ensuring that our markets remain the best in the world has been the honor of my life,» Gensler said.

Achievements of Gary Gensler

Reforms in the Treasury bond market. The SEC adopted rules to strengthen central clearing, reduce risks and improve efficiency in the $28 trillion bond market segment.
Updates to the stock market. For the first time in 20 years, important changes have been implemented, including reducing the settlement cycle to one day and increasing transparency of transactions.
Strengthening the resilience of the financial system. Amendments to the reporting of large hedge funds and private equity funds have been introduced to improve transparency and data quality.
Corporate governance. The SEC has improved the rules for disclosure of executive compensation, shareholder voting and timely reporting of purchases of more than 5% of shares in companies.
Transparency and disclosure. The SEC has adopted rules to provide investors with data on cyber and climate risks and to simplify disclosure when companies go public.

Who will replace Gensler?

He was known as a critic and opponent of cryptocurrencies With the crypto-positive Donald Trump coming to power and his team, the SEC chair is likely to be filled by a pro-crypto person. Among the possible candidates are:

Hester Piers, the current SEC Commissioner, is known for her favorable attitude towards cryptocurrencies.
Mark Uyed, SEC Commissioner, who openly advocates for balanced regulation of digital assets.
Former SEC Commissioner Dan Gallagher said he was not interested in the position.

The change in SEC leadership could be a turning point for financial regulation in the United States, especially in the field of cryptocurrencies. Against the backdrop of these events, Bitcoin’s price is approaching $100,000.