In his campaign trail, US President-elect Donald Trump
vowed to fire Securities and Exchange Commission (SEC) Chair Gary Gensler if
elected. But even before Trump gets to the Oval Office, Gensler has
hinted at a possible exit from the agency.

A recent speech by the SEC boss left many speculating
about his potential resignation, CNBC reported. In what sounded like a reflective farewell, Gensler defended his regulatory approach, especially toward the crypto
industry, and highlighted key accomplishments during his tenure.

Leaving the SEC?

Speaking at the Practising Law Institute’s 56th annual
conference on securities regulation, Gensler expressed pride in his role at the
SEC, a position he has held since April 2021.

During the address, Gensler reviewed several of the
SEC’s major accomplishments. Among the highlights were new disclosure rules
aimed at increasing transparency. The regulations now require companies to provide more
comprehensive information on data breaches, executive pay in relation to
performance, and significant ownership stakes exceeding 5%.

Although he briefly mentioned the climate change
disclosure rule, which remains mired in legal challenges, Gensler focused on
the broader intent of these initiatives. Gensler also pointed to structural changes he
implemented in the markets. These include new rules for the central clearing of
Treasury securities and a reduction in the settlement cycle for stock
transactions from two days to one.

Additionally, he highlighted recent adjustments that
allow stocks to be quoted in increments smaller than a penny, aimed at
increasing liquidity and efficiency.

Strong Stance on Crypto Regulation

In what has been a defining feature of his leadership,
Gensler reiterated his strong stance on regulating the crypto sector. “It’s been a great honor to serve with them, doing the
people’s work, and ensuring that our capital markets remain the best in the
world,” Gensler mentioned as quoted by CNBC.

While he acknowledged that Bitcoin does not fall under
the SEC’s purview as a security, he emphasized that many of the 10,000 digital
assets on the market do. He defended the SEC’s crackdown on unregistered
offerings, noting that these actions align with existing securities laws.

Gensler argued that the failure to properly regulate
the crypto market has led to “significant investor harm,” reiterating his
belief that most crypto assets have not demonstrated lasting value.

Although Gensler did not explicitly announce his
resignation, his words left room for interpretation. With a tenure marked by
significant regulatory initiatives and a combative approach to crypto,
Gensler’s legacy at the SEC seems poised to leave a lasting impact.

This article was written by Jared Kirui at www.financemagnates.com.