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

MEXC Launches 'Trading Takes Two' Campaign to Showcase AI Capabilities

MEXC is launching a month-long campaign titled 'Trading Takes Two' to showcase how MEXC AI supports users in their trading journey.

user avatarTenzin Dorje

HTX Research Highlights Risks in Stock-Linked Memecoins

HTX Research's report highlights the risks of stock-linked memecoins, focusing on misleading high APY figures and the importance of understanding market conditions.

user avatarBayarjavkhlan Ganbaatar

HTX Research Unveils Insights on Stock-Linked Memecoins

HTX Research has released a report on stock-linked memecoins, analyzing their market structure and growth potential.

user avatarMohamed Farouk

BAI Builds Closed-Loop Infrastructure for the Agent Economy

BAI is building a closed financial loop for the agent economy, integrating models and agents to facilitate seamless transactions.

user avatarDiego Alvarez

BAI Sets New Industry Record with 151 Trillion Tokens Daily Throughput

BAI has set a new industry record with a daily throughput of over 151 trillion tokens, marking a significant increase since its launch.

user avatarElias Mukuru

Justin Sun Prize Launched to Transform Scientific Research

The Justin Sun Prize has been established to redefine scientific rewards in the AI era, offering up to $1 million for breakthroughs in fundamental disciplines and machine formal verification.

user avatarKenji Takahashi

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.