The cryptocurrency market is undergoing significant changes amid the anticipated resignation of SEC Chairman Gary Gensler and the potential appointment of a pro-crypto successor.
When Is Gary Gensler Resigning?
Gary Gensler, the current SEC Chairman, is likely to resign after Thanksgiving. His departure is expected before early January 2025, prior to Donald Trump's inauguration.
Who Will Replace Gensler as SEC Chairman?
Five candidates are currently in the running for the chair position. Brian Brooks, former CEO of Binance US, has been named as a potential candidate. According to a prediction platform, Brooks is at the top of the list but may face competition from figures like Hester Peirce and Dan Gallagher.
Impact on the Cryptocurrency Market
If Brooks or other pro-crypto figures are appointed as SEC Chairman, the cryptocurrency market could see significant upward momentum. This is due to expectations for regulatory clarity and supportive policies that encourage innovation while protecting investors.
Upcoming changes in SEC leadership could have a major impact on the cryptocurrency market, offering a more favorable regulatory environment for innovation and investor protection.
