Gary Gensler, current Chairman of the U.S. Securities and Exchange Commission (SEC), is facing mounting pressure to resign following President-elect Donald Trump’s win. Trump, who has vowed to fire Gensler on his first day, has spurred analysts and trade groups to predict that Gensler may step down by December 2024.
Gensler’s tenure has been marked by aggressive regulatory actions against the cryptocurrency sector and other financial industries, which critics argue stifles innovation and growth. As speculation grows, if Gensler does not step down, Trump is expected to appoint a new interim SEC chair after his January 2025 inauguration. Given the Republican Senate majority, Trump’s choice for Gensler’s successor is likely to proceed smoothly through Senate confirmation.
Sources:
125 views