Head of SEC to resign on the day of Donald Trump's inauguration

Head of the Securities and Exchange Commission (SEC) USA Gary Gensler will leave his post in January 2025. This decision was made in connection with the expiration of Joe Biden's presidential term. The resignation of the head of the federal agency during the change of the president is a common occurrence.

Gensler headed the Commission in 2021 at Biden's suggestion. During his term in office, there was active activity to regulate the cryptocurrency market. The SEC, under Gensler's leadership, sued a number of representatives of the cryptocurrency sector and insisted on classifying cryptocurrencies as securities. This position was criticized by market participants, who considered it hostile to cryptocurrencies.

On the eve of a leadership change in the White House, President-elect Donald Trump, known for his positive attitude towards cryptocurrencies, promised to remove Gensler from the post of head of the SEC.

Expectations of a more loyal attitude towards cryptocurrencies on the part of the Trump administration led to an increase in the value of bitcoin, which approached the $100,000 mark. After Gensler's departure, the duties of the head of the Commission will probably be performed by representatives of the Republican Party in the SEC – Mark Ueda or Hester Pierce.