U.S. Securities and Exchange Commission Chair Gary Gensler said Thursday that he will be leaving the agency on Jan. 20, clearing the way for new leadership under an incoming Trump administration that is expected to dismantle Gensler's climate disclosure regulation and open the SEC's door to more...
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"U.S. Securities and Exchange Commission Chair Gary Gensler said Thursday that he will be leaving the agency on Jan. 20, clearing the way for new leadership under an incoming Trump administration that is expected to dismantle Gensler's climate disclosure regulation and open the SEC's door to more crypto-friendly policies.
Gensler made the announcement two weeks after Donald Trump was elected to the presidency for a second time, shaking off the possibility that he would remain on the commission and force the incoming president to "fire" him on "day one," as promised.
Gensler praised the staff of the SEC as "deeply mission-driven" in the Thursday statement announcing his departure.
"The staff comprises true public servants," he said. "It has been an honor of a lifetime to serve with them on behalf of everyday Americans and ensure that our capital markets remain the best in the world."
Gensler, a former Goldman Sachs partner and chair of the U.S. Commodity Futures Trading Commission, was nominated to lead the SEC by President Joe Biden in February 2021. He took his seat on the SEC two months later after being confirmed on April 14.
During his more than three years leading the agency, Gensler's SEC frequently clashed with the crypto industry. The agency brought headline-making and hard-fought lawsuits against some of the industry's biggest players, including Coinbase and Binance. Those lawsuits are ongoing. ..."