Gary Gensler may resign, and Trump's election as president could have an impact on the cryptocurrency industry.
Powered by ChatGPTOn November 14, Gary Gensler, the Chairman of the U.S. Securities and Exchange Commission (SEC), reflected on his leadership experience in a speech and hinted at a possible resignation. The election of Donald Trump as president could have a significant impact on the cryptocurrency industry, as he will have the ability to appoint a new SEC chairman who may adopt a different approach to cryptocurrencies than the current chairman. The new SEC leadership may suspend enforcement actions solely targeting registration violations, release updated guidance on determining when crypto assets are sold as securities, propose new crypto regulations, utilize exemptions, and update statements for special purpose broker-dealers. Cryptocurrency market participants should be prepared to engage with the new SEC leadership to ensure that the industry's perspectives are considered.