SEC Chair Gary Gensler announces resignation as Trump prepares to take office

Securities and Exchange Commission Chair Gary Gensler will resign on January 20, 2025, as President-elect Donald Trump takes office. Gensler's tenure included significant regulatory changes and enforcement actions against Wall Street and the crypto industry. Gensler's aggressive agenda faced strong opposition from Wall Street and legal challenges, including a recent court ruling limiting the SEC's authority over private funds. His approach to crypto regulation has also been criticized for potentially harming innovation. Trump's administration is expected to appoint a new SEC chair who may reverse Gensler's policies, particularly regarding crypto regulation, and focus on promoting capital formation.