Gary Gensler will resign as Chair of SEC by end of December
Operation Chokepoint 2.0 Is Over.
Donald Trump is back as President of US 🇺🇸 - leader who’s openly pro-crypto - Gary Gensler’s days as SEC Chair are over.
Trump has already said he wants Gensler gone.
Just FYI, President Trump can't "fire" SEC Chair, but can obviously influence who is leading US regulator.
Why does this matter?
Gensler’s tenure has been marked by crackdowns on crypto, effectively making SEC against digital asset innovation.
Gensler's “Operation Chokepoint 2.0” targeted legitimate crypto companies by pressuring banks and waging aggressive legal battles.
I’ve been saying for last 2 years that US is worst jurisdiction on the planet to set up and run a crypto business.
Hopefully this changes soon.
Here's what you need to know:
1. Operation Chokepoint 2.0:
Gensler’s SEC pushed banks to limit services for crypto companies, isolating innovators from essential banking infrastructure.
2. Aggressive Litigation:
From Ripple to Coinbase, Gensler’s SEC chose lawsuits over clear regulations, punishing companies for the “crime” of innovating.
3. Crypto Exodus:
Many promising crypto companies moved offshore, leaving the US to find friendlier regulatory environments.
Now that Trump has returned, I hope that US can have a more supportive regulatory environment.
Who is candidate for next SEC Chair?
Wall Street lawyer Richard Farley, known for a more open stance, is being considered as a potential SEC Chair replacement.
If this happens, US can finally see a proactive regulator that embraces crypto as a key technology.
One more powerful signal 👇.
All 48 crypto-backed candidates in congressional elections were elected - a clear sign for political support for crypto!
Gensler also issued statement following the Practicing Law Institute's annual Institute on Securities Regulation:
"I've been proud to serve with my colleagues at the SEC who, day in and day out, work to protect American families on the highways of finance," Gensler said.
I recently moved to UAE 🇦🇪 - global center of the crypto industry
In UAE, government’s progressive vision, superb regulators, and proactive central bank have created best ecosystem for crypto, in whole world.
In UAE, crypto thrives under visionary leadership.
I’m hopeful for a shift in US with Trump’s pro-crypto stance.
👉 Is the US about to have pro-crypto regulation?
I’ve been in crypto industry for 10+ years, I’m happy by these changes and believe they’re a positive step forward for innovation.
Tag someone who’s been watching the SEC saga closely 👇
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