SEC Chair Gary Gensler is reportedly planning to step down voluntarily after Thanksgiving, with his departure set for early January, ahead of President-elect Donald Trump’s inauguration, according to Fox Business producer Eleanor Terrett.
🚨NEW: While @realDonaldTrump’s pick for @SECGov Chair remains unknown, it looks increasingly likely that @GaryGensler will step down voluntarily and choose not to finish out his commissioner term as some had speculated. It’s anyone’s guess when his resignation announcement will…
— Eleanor Terrett (@EleanorTerrett) November 15, 2024
Although Trump has yet to announce his choice for the next SEC chair, several candidates are reportedly under consideration. Former SEC Commissioner Dan Gallagher, now with Robinhood, is seen as a possibility, though he has expressed reluctance to take the role. Sources say the situation remains fluid.
Bob Stebbins, who served as SEC General Counsel under former Chair Jay Clayton, is said to be promoted by Clayton within Trump’s transition team. A source close to Stebbins suggests he would align with the administration’s deregulatory agenda if selected.
Other potential nominees include Brad Bondi, a partner at Paul Hastings, and Paul Atkins, a Willkie Farr attorney and proponent of looser regulations for cryptocurrency. Atkins, who sits on the board of the Digital Chamber and co-chairs its Token Alliance, has been active in providing guidance on token issuance frameworks.
Meanwhile, former CFTC Chairman Christopher Giancarlo has dismissed speculation about his interest in the role.
Gensler’s tenure at the SEC has been marked by contentious policies toward crypto regulation, drawing criticism from industry stakeholders. Following Trump’s electoral victory, speculation about leadership changes intensified, with many expecting Trump to install a more crypto-friendly figure at the helm of the SEC.
Last month, as questions swirled around Gensler's future, observers noted his increasingly polarizing approach to overseeing U.S. crypto policies, signaling a likely shift in direction under the incoming administration.
