Securities and Exchange Commission Chair Gary Gensler, known for his assertive oversight of cryptocurrencies, has announced his resignation effective January 20. During his tenure, Gensler advocated for regulatory changes aimed at safeguarding investors, a stance that drew criticism from industry stakeholders and many Republicans who viewed it as regulatory overreach.
President-elect Donald Trump had pledged to remove Gensler, a promise fulfilled with Gensler's decision to step down on the day of Trump's inauguration. Following the news of Gensler's resignation, Bitcoin surged by 40%, reaching new highs and nearing the $100,000 mark.
