SEC Chair Gensler Set to Step Down as Trump Eyes Crypto-Friendly Leadership

Reports suggest SEC Chair Gary Gensler may step down after Thanksgiving, leaving the position by early January ahead of Donald Trump’s inauguration.

This development follows growing speculation about a potential shift in regulatory direction under the new administration.

The Trump team has yet to finalize a candidate for the next SEC chair, though several names are being discussed. Former SEC Commissioner Dan Gallagher, currently at Robinhood, has reportedly shown hesitancy about accepting the role. However, insiders indicate the situation is still evolving.

Bob Stebbins, who served as SEC General Counsel under Jay Clayton, is also being considered, with sources suggesting he may align with the administration’s crypto-friendly stance if appointed.

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Other contenders include Brad Bondi of Paul Hastings and Paul Atkins from Willkie Farr, both known for advocating less restrictive approaches to cryptocurrency regulation. Atkins, a prominent figure in the Digital Chamber’s Token Alliance, has been involved in shaping guidelines for token issuance. Despite speculation, former CFTC Chair Christopher Giancarlo has denied interest in the position.

This potential change comes amid criticism of Gensler’s tenure, marked by contentious crypto policies and aggressive enforcement actions. With Trump favoring leadership that might adopt a more industry-friendly approach, Gensler’s departure could signal a significant shift in the SEC’s stance on digital assets.

Kostadin Dimitrov