If there is now consensus that Gary Gensler's days at the head of the Securities and Exchange Commission (SEC) are numbered, the person concerned could resign very soon. Indeed, the letter he shared on Thursday makes us think that.
Gary Gensler hints resignation is imminent
While Donald Trump announced he wanted to fire Gary Genslerthe 33rd chairman of the Securities and Exchange Commission (SEC), the events of recent days rather suggested that the person concerned would choose to resign.
Through a letter published Thursday on the federal agency's website, this option seems to be becoming clearer. Indeed, just before concluding this long statement, Gary Gensler thanks the staff of different SEC trades, with a turn of phrase suggesting an imminent departure :
It has been a great honor to serve with them, doing the people's work and ensuring our financial markets remain the best in the world.
💡 What are the origins of the SEC's actions against cryptocurrencies?
Throughout this letter, the person concerned multiplies historical references, or homages to political figures, such as Franklin Roosevelt who was behind the creation of the SEC. In addition, Gary Gensler extols the merits of regulation, particularly in the Treasury markets, the stock markets, and of course, the cryptocurrency market.
The latter occupies a prominent place in the letter, and the president of the SEC defends the numerous enforcement measures carried out during his mandate :
Many courts have approved our measures to protect investors and rejected all arguments that the SEC cannot enforce the law when securities are offered, regardless of their form. Not all assets are securities. Former Chairman Clayton and I have both stated that bitcoin is not a security, and the Commission has never treated bitcoin as such.
👉 On the same subject — United States: 18 states file a complaint against the SEC and Gary Gensler over their anti-crypto policy
Despite everything, while a complaint was filed by 18 States against the Commission and himself, Gary Gensler tends to be more measured than usualregarding his comments regarding cryptocurrencies. Indeed, he highlights, for example, the fact that it was under his mandate that the agency approved the first ETFs in the sector, as if to remind us that not everything was negative.
As for his departure and his succession, we should now know more very quickly.
Trade Republic: Buy Cryptos and Stocks in 5 Minutes
Source: Gary Gensler
Image: Third Way Think Tank via Flickr (CC BY-NC-ND 2.0)
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Since 2021, I have devoted my free time to seriously educating myself on cryptocurrencies in order to acquire maximum knowledge and credibility. I often have the opportunity to conduct interviews with influential figures in the blockchain industry. I also conduct in-depth analyzes on Web3 themes to offer exclusive content to Cryptoast readers.
Vincent Maire
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