As reported by Crypto Briefing, in a significant shift in the regulatory landscape, SEC Chair Gary Gensler is poised to resign voluntarily after the Thanksgiving holiday, with plans to depart by early January, before Donald Trump's anticipated inauguration. This information was revealed through a post on X by Fox Business producer Eleanor Terrett.
While the identity of Trump’s pick for the next SEC chair remains uncertain, various candidates are reportedly under consideration. Among them is former SEC Commissioner Dan Gallagher, who currently holds a role at Robinhood. Gallagher has previously expressed hesitance about accepting the position; however, insiders suggest that the situation is evolving.
Additionally, Bob Stebbins, who served as the SEC’s General Counsel during the tenure of former Chair Jay Clayton, is said to be gaining traction, thanks in part to Clayton's endorsement to the transition team. A source close to Stebbins has conveyed that he would be inclined to support the regulatory direction favored by the Trump administration, should he be nominated.
Other noteworthy candidates include Brad Bondi, a legal professional at Paul Hastings, and Paul Atkins, affiliated with Willkie Farr. Both individuals are recognized for their preference for less stringent regulations concerning cryptocurrency assets. Notably, Atkins currently serves on the board for the Digital Chamber and co-chairs its Token Alliance, offering insights on the development of token issuance.
In contrast, former CFTC Chairman Christopher Giancarlo has dismissed the possibility of his nomination for the SEC chair position.
The uncertainty surrounding Gensler's future was amplified this week, following Trump's electoral victory, which highlighted the former president's inclination toward appointing leadership at the SEC that would adopt a more crypto-friendly stance.
As Gensler's controversial tenure overseeing U.S. cryptocurrency policies draws to a close, speculation about his future role and the direction of SEC leadership remains a topic of intense interest.
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