Gary Gensler’s time as SEC chair may be coming to an end— who will replace him and what does it mean for crypto?

SEC Chair Gary Gensler testifies in front of the House Financial Services Committee in September, 2024. (Credit: Tom Williams/CQ-Roll Call, Inc—Getty Images)

For the last three years, crypto firms’ prime nemesis has been Securities and Exchange Commission chair Gary Gensler, who they accuse of pursuing an unfair vendetta against the industry. In response, the industry has spent huge sums on the 2024 election in a bid to replace Gensler.

While Republican candidate Donald Trump has promised to remove Gensler on day one— which may or may not be possible— there is a strong possibility that the SEC chair will be replaced no matter who wins the White House as Harris has recently diverged from Biden’s hardline anti-crypto stance, and voiced her support for a regulatory framework around digital assets.