Gary Gensler, the current Chairman of the U.S. Securities and Exchange Commission (SEC), is expected to step down by early 2025, as per 10x Research's recent analysis. The analysis suggests a potential change in the political landscape with President Joe Biden not competing in the upcoming election, potentially paving the way for Donald Trump's return to office in January 2025. Despite Gensler's term officially lasting until June 2026, there are strong indications of his resignation in early 2025 coinciding with the new presidential administration. This transition often brings alterations in key regulatory positions like the SEC Chair, as noted in Thielen’s report. The impact of this anticipated change on the cryptocurrency market is significant. A Trump administration could signal positive developments for digital assets, including Bitcoin, according to the analysis. Speculations hint at a bullish outlook, with potential noteworthy announcements expected at the upcoming Bitcoin conference in Nashville. However, caution is advised as the market may witness extreme price movements, potentially surpassing previous all-time highs. Concurrently, the SEC is encountering resistance from several states challenging its authority over cryptocurrencies. A group of seven states, including Iowa, Arkansas, Indiana, Kansas, Montana, Nebraska, and Oklahoma, have jointly opposed the SEC’s jurisdiction over digital assets, citing concerns about the commission's regulatory overreach and its impact on innovation within the industry. These states argue that the SEC's actions infringe upon state consumer protection laws and lack explicit congressional authorization, violating established legal principles like the Administrative Procedure Act and the Major Questions Doctrine.