Phew relief! While everyone is waiting for bitcoin to hit $100,000, Gary Gensler, the SEC president, would almost steal the show from the crypto queen tonight. Indeed, the head of the Securities and Exchange Commission announced in a thread on the future of financial markets, especially with regard to cryptocurrencies and the transparency of traditional markets. We are taking inventory.
- SEC Chairman Gary Gensler announced his resignation effective January 20, 2025, marking the end of an era of intense reform and heated debate in the financial markets.
- During his tenure, Gensler conducted more than 2,700 enforcement actions that generated $21 billion in penalties and was a major player in the strict regulation of cryptocurrencies.
Gary Gensler, Sworn Enemy of Bitcoin Resigns!
Since his arrival at SEC in April 2021, At a time when Wall Street was still reeling from the aftershocks of the GameStop affair, Gary Gensler took on a titanic mission: to reform entire parts of the US financial markets. And he was not idle.
In a precisely organized ballet, he carried out deep reforms that affected both the stock and bond markets as well as corporate transparency.
Gary Gensler, with the support of the Biden administration, therefore waged a war against cryptocurrencies. However, the recent election of Donald Trump has changed the direction of the wind. Against the grain, Gary Gensler even hinted at his departure a few days ago only to confirm it today.
Cryptocurrencies released by SEC chief
Gary Gensler in a few numbers is more than 2,700 coercive actionswhich generated $21 billion in penalties (including over $7 billion for cryptocurrencies alone) and $2.7 billion returned to harmed investors. When it comes to cryptocurrencies, the SEC under Gensler has been a prominent player in taking action against platforms and projects for fraud, manipulation and violations of securities laws. Despite fierce opposition that sometimes caused the price of Bitcoin and cryptocurrencies to fluctuate, several court rulings ruled in favor of the Commission.
“The Securities and Exchange Commission is a remarkable agency … The staff and the Commission are deeply mission-driven, focused on protecting investors, facilitating capital formation, and making markets work for investors and broadcasters. The staff includes real civil servants. It has been an honor to serve with them on behalf of everyday Americans and ensure that our capital markets remain the best in the world. »
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Gensler has drawn criticism from cryptocurrency players, sometimes calling him an “overly aggressive regulator.” Coinbase, Ripple, Binance, cryptocurrency classification, there are many files where Gary Gensler was worried. His departure leaves open questions: who will succeed him?
We don’t know at this point, however, there are many paths for America in 2025, which already promises to be cryptocurrency-friendly.