Gary Gensler Resignation Imminent? SEC Chair Says He's 'Been Proud to Serve'
"I’ve been proud to serve with my colleagues at the SEC who, day in and day out," Gensler said yesterday during remarks at an event.
Securities and Exchange Commission (SEC) Chair Gary Gensler said he was “proud to serve” at the agency during a speech, amid widespread speculation about his potential resignation.
“I’ve been proud to serve with my colleagues at the SEC who, day in and day out, work to protect American families on the highways of finance,” he said at the 56th Annual Institute on Securities Regulation yesterday at the Practicing Law Institute in New York City.
To be clear: Gensler has not officially announced his resignation at the time of writing. However, Gensler’s use of the past tense regarding his job comes after President Elect Donald Trump promised to “fire Gary Gensler on day one” at a Nashville Bitcoin conference in July.
Markus Thielen, CEO of crypto research firm 10x Research, told Decrypt earlier this year that SEC chairs have historically resigned following the election of a new administration, such as at the start of the Obama or Biden administrations.
Gensler's speech also discussed his legacy during his three years at the SEC, including how it has applied its regulatory hand to the crypto industry. He also took the opportunity during his speech to reiterate his long-held stance that many cryptocurrencies are securities, not commodities, and the industry’s potential for harm.
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