Goodbye, the big devil in the crypto! SEC Chairman Gary Gensler will step down in January next year

According to the official statement of the U.S. Securities and Exchange Commission (SEC), the current SEC Chairman Gary Gensler, who has taken a strict regulatory approach towards the cryptocurrency industry, will officially step down on January 20, 2025. Gary Gensler said in the statement: "I am grateful to President Biden for his trust and for entrusting me with this responsibility. The SEC has faithfully carried out its mission, enforcing the law without fear. I have enjoyed working with my colleagues, including Allison Herren Lee, Elad Roisman, Hester Peirce, Caroline Crenshaw, Mark Uyeda, and Jaime Lizárraga. I also thank Congress, my U.S. government colleagues, and global regulators for their support." For the U.S. cryptocurrency industry players, this is a long-awaited moment, as Gary Gensler has taken a strict regulatory approach towards cryptocurrencies, taking enforcement actions against entities such as Coinbase, Kraken, Robinhood, OpenSea, and Uniswap Labs during his tenure, drawing much criticism. Previously, the attorneys general of 18 U.S. states even jointly sued the SEC and its five commissioners, accusing the SEC under the leadership of Chairman Gary Gensler of unconstitutionally overreaching and unfairly suppressing the $3 trillion cryptocurrency industry. One of Trump's campaign promises was to remove Gary Gensler from office after taking office.