Gary Gensler, the current SEC chair, might soon be dismissed if President Trump enacts his plans for changes in cryptocurrency regulation. This was revealed during the Bitcoin 2024 event.
Gensler’s Statements on Cryptocurrency
During the preparation of this article, Bitcoin (BTC) plummeted to $88,234, causing losses of up to 8% for various altcoins. At the 56th Annual Securities Regulation Institute hosted by the Practical Law Institute, Gensler reiterated that most cryptocurrencies qualify as securities.
Will Gensler Resign?
Trump has stated his intention to dismiss Gensler, and sources suggest Gensler may resign after elections, as other leaders have done. However, he could still remain a commission member at the SEC. His recent statements seemed reminiscent of a farewell address, particularly after the elections.
Changes in SEC Leadership
Trump's clear promise to dismiss Gensler hints at forthcoming changes, with plans to appoint a candidate more favorable to cryptocurrencies.
The decision on Gensler's dismissal may soon be confirmed as Trump reveals candidates for key public positions, including the SEC.
