The head of the U.S. Securities and Exchange Commission, Gary Gensler, will step down on January 20, the agency announced today. Gensler will leave the job as President-elect Donald Trump takes office.
Gensler’s term ends in 2026, but it’s common for heads of government agencies to leave when a new administration takes over.
It is known that Gensler doesn’t believe in cryptocurrencies, so Trump said he would fire him on “day one” of his term.
The news comes as bitcoin BTCUSD 4.02% is getting close to $100,000, a big milestone that comes at a time when people are expecting the Trump administration to be friendlier to cryptocurrencies.
