The current Chair of the United States Securities and Exchange Commission (SEC), Gary Gensler, is anticipated to leave office in the first two months of 2025.
According to Thielen’s estimate, Gensler’s departure will occur during the period of transition to a new government in the White House. Thielen cited President Joe Biden’s choice not to seek re-election as a crucial factor, indicating a strong likelihood of Donald Trump becoming president in January 2025.
According to Thielen, Gensler will likely leave earlier than expected due to the changes in politics, even though his term formally ends on June 5, 2026. He pointed out that when a new administration takes office, SEC chairs frequently resign, particularly if the incoming leadership has opposing views on regulations.
Trump’s running mate, J.D. Vance, criticized Gensler’s approach to regulating cryptocurrency in February. Vance described Gensler as the wrong guy for the position, criticizing him for taking a negative and highly political approach to crypto policy.
Thielen also identified several positive triggers for the cryptocurrency market in the coming weeks. He hinted that Trump could make a major announcement at the forthcoming Bitcoin convention in Nashville, Tennessee, on July 25. There is speculation that Trump could declare Bitcoin a strategic reserve asset, which might result in a surge in Bitcoin’s price.
Read CRYPTONEWSLAND onThe predicted exit of SEC Chair Gary Gensler in early 2025, along with likely positive moves in the cryptocurrency market, indicates big shifts in the financial environment. The resignation could pave the way for fresh regulatory approaches.
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