SEC chair Gary Gensler to resign on January 20 as Trump takes office

U.S. Securities and Exchange Commission Chair Gary Gensler will resign on January 20, 2025, as President-elect Donald Trump takes office. Gensler, appointed by President Biden in 2021, led significant regulatory changes but faced pushback from Wall Street and legal challenges. During his tenure, Gensler focused on increasing market transparency and enforcing rules on Wall Street and the crypto industry. His efforts included new regulations for U.S.-listed Chinese companies and fines against major banks for using unauthorized communication channels. Gensler's departure may lead to a shift in SEC priorities. Trump's administration is expected to appoint a Republican commissioner as acting head, likely reversing Gensler's crypto policies and reviewing his regulatory agenda.