Gary Gensler: Possible Dismissal and Future of Cryptocurrency Regulation

user avatar

by Giorgi Kostiuk

2 years ago

Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), may leave his position following Donald Trump's announcement of planned changes.

Gensler’s Statements on Cryptocurrencies

Bitcoin (BTC) recently experienced a sharp price drop, affecting other altcoins as well. In his speech at the 56th Annual Securities Regulation Institute, Gensler noted that most cryptocurrencies, except for Bitcoin, Ether, and stablecoins, are considered securities. He stated: 'To put this in context, aside from Bitcoin, Ether, and stablecoins, the rest of this market is about $600 billion.'

To put this in context, aside from Bitcoin, Ether, and stablecoins, the rest of this market is about $600 billion.

Will Gensler Resign?

Trump has expressed his intention to dismiss Gensler, and sources suggest he might resign after the elections. However, Gensler could remain as a commissioner at the SEC. In his announcement, which resembled a farewell speech, Gensler stated: 'It was a great honor to serve with them, to do the public’s work, and to ensure our capital markets remain the best in the world.'

It was a great honor to serve with them, to do the public’s work, and to ensure our capital markets remain the best in the world.

Gensler might step down from the SEC chair position, although it is yet to be confirmed. The presidential administration plans to propose a more crypto-friendly nominee for the post.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

CFTC Takes Legal Action Against Utah to Protect Kalshi

CFTC files lawsuit against Utah to block enforcement actions against Kalshi, a prediction market platform.

user avatarElias Mukuru

Utah Charges Kalshi and Co-Founders with Illegal Gambling Promotion

Utah has filed criminal charges against KalshiEX LLC and its co-founders for illegally promoting gambling in the state.

user avatarMohamed Farouk

Arbitrum's Network Fees Remain Stable Amid Increased Activity

Arbitrum's daily user-paid fees remained stable at approximately 19,100 on October 28, despite an increase in active addresses, indicating a shift towards lower-cost interactions.

user avatarDiego Alvarez

Transaction Activity Increases but Lags Behind Wallet Growth

Transaction activity increased modestly to approximately 21 million on the Arbitrum network, despite a significant rise in active addresses, raising concerns about the sustainability of growth.

user avatarMaria Fernandez

Arbitrum Records Sharp Increase in Active Addresses

Arbitrum has recorded a sharp rise in daily active addresses, reaching approximately 109 million on October 28, marking a notable increase in blockchain activity.

user avatarKenji Takahashi

Ripple Aims for $900 Million Annualized Revenue by 2026

Ripple aims to achieve $900 million in annualized product revenue by the end of 2026, diversifying its business strategy beyond cryptocurrency payments.

user avatarGustavo Mendoza

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.