Gary Gensler to Step Down as SEC Chairman: Potential Changes in Crypto Regulation

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by Giorgi Kostiuk

2 years ago

Gary Gensler, the current SEC Chairman, has announced his resignation effective January 20, 2025. With this decision, potential candidates for acting chair are being considered, indicating a possible shift in the SEC's approach towards cryptocurrencies.

Gary Gensler's Resignation and Possible Candidates

Gary Gensler has announced his decision to step down as SEC Chairman on the day of President-elect Donald Trump's inauguration. Potential candidates for the acting chair position include Mark Uyeda and Hester Peirce, both known for their pro-crypto stance. Chris Giancarlo and Paul Atkins are also mentioned as possible successors.

Gensler's Impact on the Crypto Industry

During Gary Gensler's tenure as Chairman, the SEC has taken significant regulatory measures against the crypto industry. Notably, this includes the SEC's lawsuit against Ripple Labs. Some in the crypto industry believe that the SEC is overstepping its authority, and his departure may lead to a change in the regulatory approach.

Current Status and Prospects of XRP

Currently, the price of XRP stands at 1.4592 USDT, with a 0.71% decrease for the day. Despite the current decline, XRP has shown significant upward momentum over the past month, including a 180.75% increase. However, the possibility of consolidation around current support levels should be considered.

Gary Gensler's resignation may lead to a change in SEC's regulatory policies towards a more crypto-friendly approach. As the crypto industry awaits the decision on his successor, XRP and other assets continue to show positive trends.

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