SEC chair Gary Gensler to resign on January 20 as Trump administration begins

U.S. Securities and Exchange Commission Chair Gary Gensler will resign on January 20, coinciding with the start of President-elect Donald Trump's administration. Gensler, appointed by President Biden in 2021, faced significant opposition from Wall Street and the crypto industry during his tenure. Gensler's leadership included efforts to enhance market transparency and enforce new rules, particularly regarding crypto companies and unauthorized communication channels. However, his aggressive regulatory approach led to legal challenges, including a recent court ruling limiting the SEC's authority over private funds. Trump's administration is expected to appoint a new SEC chair, likely from current Republican commissioners. The new leadership may shift focus away from Gensler's crypto regulations and review existing rules to encourage capital formation.