Key Takeaways
- Gary Gensler is expected to step down as SEC chairman after Thanksgiving.
- Potential successors to the SEC chairmanship are being considered ahead of President Trump’s inauguration.
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SEC Chairman Gary Gensler is expected to voluntarily resign after Thanksgiving and leave in early January ahead of Donald Trump’s inauguration, according to Fox Business producer Eleanor Terrett.
đ¨New: While @realDonaldTrumpselected by @SECGov The chair is still unknown and looks increasingly likely. @GaryGensler As some have speculated, he will voluntarily resign and choose not to complete his term as commissioner. When his resignation will be announced is anyone’s guess.
â Eleanor Terrett (@EleanorTerrett) November 15, 2024
Trump’s choice for the next SEC chairman has not yet been determined, but several candidates are being considered. Former SEC Commissioner Dan Gallagher, who now works at Robinhood, has previously expressed reluctance to take the position, but sources note the situation remains fluid.
Bob Stebbins, former SEC general counsel under Jay Clayton, has reportedly been promoted to transition team by Clayton. Sources close to Stebbins said he would follow the direction of the Trump White House if nominated.
Other potential candidates include attorneys Brad Bondi of Paul Hastings and Paul Atkins of Willkie Farr. Both are known to favor a less stringent regulatory approach to cryptocurrency assets. Atkins currently serves on the Digital Chamber Board of Directors and co-chairs the Token Alliance, providing guidance on token issuance development.
Former CFTC Chairman Christopher Giancarlo dismissed speculation about his potential nomination.
With Donald Trump winning the election earlier this week, SEC Chairman Gary Gensler’s future appeared uncertain as Trump favored a more cryptocurrency-friendly SEC leadership.
As Gary Gensler’s controversial tenure overseeing U.S. cryptocurrency policy neared its end last month, speculation continued about his future role.
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