TechFlow news — On November 22, according to an official announcement, SEC Chair Gary Gensler will step down on January 20.
The official statement noted that during the last full fiscal year, although the cryptocurrency market accounted for less than 1% of the U.S. capital markets, 18% of the tips, complaints, and referrals received by the Securities and Exchange Commission were related to cryptocurrencies. Courts across the country have consistently supported the Commission's actions to protect investors and rejected all arguments claiming the SEC lacks authority to enforce securities laws—regardless of how a security is issued.
Notably, Trump previously pledged that he would fire Gary Gensler if he won the election, and Trump’s presidential term is set to begin on January 20 as well.
