Gary Gensler has officially resigned

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Gary Gensler has officially resigned

On January 20, 2025, SEC Chairman Gary Gensler officially stepped down from his position. Commissioner Mark Uyeda was appointed as the interim head of the Commission.

In a statement released on the SEC’s official website, it was noted that Gensler had served as chairman since 2021. Prior to this role, he led the Commodity Futures Trading Commission (CFTC) and served as the Under Secretary of the Treasury for Domestic Finance.

The SEC emphasized in its release that Gensler aimed for “bipartisan engagement and respectful exchange of ideas” despite differing views on his tenure.

It is worth noting that in the fall of 2024, the House of Representatives initiated an investigation into the SEC, accusing the agency of “political favoritism.” Allegations were made that Gensler appointed individuals to key positions based solely on their alignment with certain political ideologies.

Additionally, the SEC’s statement highlighted Gensler’s achievements, including efforts to increase public awareness of the risks and benefits of investing, which likely extends to crypto assets.

“Thank you, Chair, for your leadership, your zealous advocacy on behalf of our agency and investors, and your friendship.  We are proud to have served this great agency alongside you.  Your extensive public service over the past thirty years cautions against saying goodbye; instead, we will say – so long for now.” – emphasized in its release.

Gary Gensler himself expressed a similar sentiment:

“Serving as Chair of the SEC has been the greatest honor of my life. Over these four years, we have modernized the regulation of equity and treasury markets and shortened the settlement cycle. Additionally, we have returned over $2.7 billion to harmed investors.”

U.S. President Donald Trump, through an executive order, appointed Commissioner Mark Ueda as the acting Chairman of the SEC. Although Ueda was considered a candidate for the permanent position of the regulator’s head, the president ultimately favored Paul Atkins for the role.