Did Gary Gensler Hint at Leaving the SEC in His Latest Statement?

SEC Chairman Gary Gensler spoke at the Practising Law Institute’s annual securities regulation conference, offering an overview of his tenure since April 2021.

Gensler praised the SEC, describing his role as an “honor” and underscoring the agency’s commitment to maintaining robust U.S. capital markets.

During his speech, Gensler reviewed the SEC’s recent accomplishments, highlighting numerous disclosure rules implemented under his leadership. Key achievements included rules requiring disclosure on data breaches, executive pay, and regulations for controlling stakes in companies. Although he mentioned his climate change disclosure rule—which has faced legal challenges—he did so only briefly.

Gensler also outlined advancements in market structure, such as reducing the stock settlement cycle to one day and introducing more precise stock quote increments.

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Defending his stance on crypto, Gensler reiterated his view that, while bitcoin is not a security, thousands of other digital assets are, subjecting them to SEC regulation. He criticized the lack of industry oversight, citing investor harm and limited sustainable use cases for most crypto assets. He emphasized that anyone dealing in securities—including digital assets—must register with the SEC, underscoring his commitment to safeguarding investors.

Although he stopped short of announcing a departure, Gensler’s closing remarks about his pride in serving with the SEC hinted at a possible farewell. He commended his colleagues for their dedication to protecting U.S. investors:

It’s been a great honor to serve with them, doing the people’s work, and ensuring that our capital markets remain the best in the world.

While Trump’s inauguration is set for January 20, the pro-XRP attorney James Murphy (who goes by MetaLawMan on X) believes Gensler may vacate his post as early as this month.

He reminded that the former Chairman of the regulator, Mary Jo White, resigned six days after the 2016 US presidential elections. Her successor, Jay Clayton, did the same 13 days after Joe Biden won the contest in November 2020.

Kosta Gushterov