#Gensler to Step Down as SEC Chair#

Gary Gensler, the current chairman of the U.S. Securities and Exchange Commission (SEC), will step down on January 20, 2025. Gensler himself announced this on November 22, 2024. He has 13 days left in office. Notably, Donald Trump, the elected Republican president of the United States, announced on December 5, 2024, that he would nominate Paul Atkins to be the next SEC chairman. This means that after Gensler steps down, the SEC will have a new leader, and Atkins, as Trump's nominee, will likely bring about a shift in the SEC's policy direction. While Atkins' specific policy stances are unclear, it is foreseeable that he will differ from Gensler on issues such as cryptocurrency regulation. During his tenure, the SEC has taken a stricter regulatory approach to the cryptocurrency industry, while Atkins is considered to be more friendly towards the industry. Therefore, Gensler's departure and Atkins' arrival will have a significant impact on the future development of the U.S. cryptocurrency industry.