The cryptocurrency market has seen a significant boost in recent times after the pro-crypto Donald Trump’s victory and the expected resignation of SEC Chairman Gary Gensler.
When Will Gary Gensler Step Down as SEC Chairman?
Gary Gensler, the current SEC Chairman, is set to resign voluntarily post-Thanksgiving, with his departure likely before Donald Trump’s inauguration in early January 2025.
Prior to Gensler’s resignation, there are five potential candidates vying for the chairman position, with Brian Brooks, former CEO of Binance US, emerging as a strong contender to succeed him.
Is Brian Brooks the Next SEC Chairman?
Recent predictions place Brooks at the forefront of potential candidates, drawing attention from crypto enthusiasts globally. Despite his favorable stance on crypto, he may face tough competition from other pro-crypto figures like Hester Peirce and Dan Gallagher.
Currently, Brooks and Gallagher are the leading contenders, with 41% and 25% chances, respectively.
Brooks’ prominence in the race is attributed to the demand for a clear regulatory framework in the US. During Trump’s presidency, initiatives were taken to regulate cryptocurrencies, with Brooks’ experience at Binance and Coinbase adding to his credibility.
The industry anticipates more crypto-related regulations under Brooks’ leadership, aiming to protect investors and promote exploration in the evolving crypto landscape.
If Brooks, Peirce, or Gallagher are appointed, it could lead to a positive market trend, driven by regulatory clarity and policies fostering innovation while ensuring investor protection.