SEC Chair Gensler may resign by early 2025

[zasad@]

https://www.msn.com/en-us/money/other/sec-chair-gensler-may-resign-by-early-2025-report/ar-BB1qpuUV

"10X Research founder Markus Thielen predicts that the US Securities and Exchange Commission (SEC) Chairperson Gary Gensler will probably resign in the first quarter of 2025.

This development emerged as US President Joe Biden opted to withdraw from the 2024 presidential race. Biden was already trailing behind Donald Trump with a long margin in the re-election odds."

___
Uncle Gary has done a great job of filling the United States Treasury with fines. I'm even very interested in the slate of the new Chairperson of the SEC.

[Oshosondy]

We do not care. A SEC governor that does not know that ethereum should not be made a commodity not to talk of having ethereum ETF.  Another thing is that even if Biden remains the Democrats candidate to compete with Trump, he will likely lose in this coming election. Trump odd was low which means he has more chance to win. The crypto community are supporting him and still the same would be Gensler fate.

[goldkingcoiner]

We do not care. A SEC governor that does not know that ethereum should not be made a commodity not to talk of having ethereum ETF.  Another thing is that even if Biden remains the Democrats candidate to compete with Trump, he will likely lose in this coming election. Trump odd was low which means he has more chance to win. The crypto community are supporting him and still the same would be Gensler fate.

Biden has already withdrawn as a candidate. He is not going to be running for president anymore. There is talk about a terminal illness, but those are just rumors for now.

I agree that Gensler is completely far too biased against cryptocurrency to remain in the SEC.

[Oshosondy]

Biden has already withdrawn as a candidate. He is not going to be running for president anymore. There is talk about a terminal illness, but those are just rumors for now.

Yes I know. I am following the news on BBC. I only meant that even if Biden did not do what he did recently by not going for the presidential election again. The vice president Kamala Harris is likely to be the Democrats nominee.

But it is Biden that quit and not going to compete in the coming United States presidential election.

[zasad@]

We do not care. A SEC governor that does not know that ethereum should not be made a commodity not to talk of having ethereum ETF.  Another thing is that even if Biden remains the Democrats candidate to compete with Trump, he will likely lose in this coming election. Trump odd was low which means he has more chance to win. The crypto community are supporting him and still the same would be Gensler fate.

Ethereum is already a commodity, and everything else is not important.
SEC only has questions about coins in staking. Tokenization markets will grow, but the problem is that the underlying assets are backed by US Treasuries.
But sooner or later this market will burst.

[notocactus]

I agree that Gensler is completely far too biased against cryptocurrency to remain in the SEC.

Biden has only several months as the US. President, no second term for him, and he will step down after the President Election this year and some months for transition after that.

The boss of Gensler will step down and possibly retire his political career too, what will wait for Gensler under a new President especially if Donald Trump win the election and become a new elected President. Gensler will not have great chance to stay at this position under Trump's administration.

Ethereum is already a commodity, and everything else is not important.

It's no longer important but many years, it was a big fear for cryptocurrency market because if Ethereum is considered as a security, there will be massive attacks toward many altcoins.

Let's use this time to rewatch the video Rep. Patrick McHenry Confronts Gary Gensler: Is Ether a Security or a Commodity? and Gensler's answer.

SEC only has questions about coins in staking. Tokenization markets will grow, but the problem is that the underlying assets are backed by US Treasuries.
But sooner or later this market will burst.

They will possible have to submit and wait for approval of a new act that can regulate cryptocurrency industry and market better. More tax will be charged from this market but SEC. will have no power to kill this industry and market.

[yhiaali3]

It seems that Uncle Gary has chosen to quietly withdraw before being fired by Trump if he wins the presidential election, which will be good news for the crypto community and there will definitely be no one there to say goodbye to him.

It is true that Uncle Gary has done a great job in filling the US treasury with fines, but on the other hand, he has caused huge losses by strangling the crypto industry in the US and has caused many companies to leave or move their offices to other countries, these strangled investments could have filled the US treasury much more than Gary did.

[Jating]

Good riddance  for him if he decided to resign by early 2025 or if Trump wins the election. We've seen his hard line stance and if by chance Trump wins, and we all know that he is pro-crypto, he might put a person in SEC that is more lenient and understand what crypto is not just for the Americans.

And for sure, pro crypto advocates might be happy to see uncle Gary out and a new set of fresh air will be in SEC.

Who knows, we might finally see a Ethereum ETF if we have a new SEC chair.

[zasad@]

Ethereum is already a commodity, and everything else is not important.

It's no longer important but many years, it was a big fear for cryptocurrency market because if Ethereum is considered as a security, there will be massive attacks toward many altcoins.

Let's use this time to rewatch the video Rep. Patrick McHenry Confronts Gary Gensler: Is Ether a Security or a Commodity? and Gensler's answer.

SEC only has questions about coins in staking. Tokenization markets will grow, but the problem is that the underlying assets are backed by US Treasuries.
But sooner or later this market will burst.

They will possible have to submit and wait for approval of a new act that can regulate cryptocurrency industry and market better. More tax will be charged from this market but SEC. will have no power to kill this industry and market.

The SEC regulator started working on the crypto market not so long ago. I wrote many posts, studies, where I said that Blackrock was interested in this ecosystem. No charges were brought against Ethereum, the SEC recently stopped investigating Ethereum. It was clearly clear that this ecosystem would develop, and Ethereum through ETF and other exchange instruments would be traded on major global exchanges.

If you want to understand, look at the SEC's affairs in the crypto market in recent years.
They work against those companies that have "cut a lot of money from hamsters" and want to take their share.
After the market is cleaned, affiliated crypto exchanges and companies backed by large funds such as Blackrock, Fidelity, VanEck and others will come to it.

[pakhitheboss]

snip..

The sequence of events is crazy and shows how democratic the USA is and how they used the term democracy as war subject.
[1] Biden is baffled by Trump in the first debate.
[2] Trump failed assassination.
[3] Biden is suffering from COVID-19.
[4] Biden declares that he will not contest for the US presidential election.
It is impossible now to stop Trump from becoming the President of the US and being declared a crypto supporter, the SEC chairman can't stay. That is the reason why this article was put in by the SEC chairman team who are handling his PR.

[zasad@]

..
It is impossible now to stop Trump from becoming the President of the US and being declared a crypto supporter, the SEC chairman can't stay. That is the reason why this article was put in by the SEC chairman team who are handling his PR.

Politicians talk and promise a lot before elections. In Russia, many promises are forgotten after the elections. American colleagues said that it is the same in America.

In Russia, if the president says what is necessary, the law will be passed by the State Duma in a few days, but in the U.S. it does not work that way

I mean, if Trump wins the election, by the time he starts working, the US crypto market will already be divided between the big companies I wrote about above. And Trump will have to reckon with their opinion and their lobbyists.

[Stalker22]

..
It is impossible now to stop Trump from becoming the President of the US and being declared a crypto supporter, the SEC chairman can't stay. That is the reason why this article was put in by the SEC chairman team who are handling his PR.

Politicians talk and promise a lot before elections. In Russia, many promises are forgotten after the elections. American colleagues said that it is the same in America.

In Russia, if the president says what is necessary, the law will be passed by the State Duma in a few days, but in the U.S. it does not work that way

I mean, if Trump wins the election, by the time he starts working, the US crypto market will already be divided between the big companies I wrote about above. And Trump will have to reckon with their opinion and their lobbyists.

I just watched the video stream. The Bitcoin conference had an electric atmosphere, particularly following Trump's inflammatory comments about removing SEC Chair Gary Gensler.  Trump declared he would dismiss Gensler on his first day in office and appoint a new SEC Chair who believes America should build the future not block.  His remarks brought cheers from conference attendees.  However, only time will tell whether his pledge to axe Gensler was sincere or merely rhetoric to please the Nashville crowd.  Either way the Bitcoin conference crowd lapped it up.

[pakhitheboss]

Politicians talk and promise a lot before elections. In Russia, many promises are forgotten after the elections. American colleagues said that it is the same in America.

In Russia, if the president says what is necessary, the law will be passed by the State Duma in a few days, but in the U.S. it does not work that way

I mean, if Trump wins the election, by the time he starts working, the US crypto market will already be divided between the big companies I wrote about above. And Trump will have to reckon with their opinion and their lobbyists.

It is common that all politicians in the world will make promises but tend to forget them when they are in power. This time it is looking different as yesterday at the Bitcoin 2024 conference he pledged to remove the current SEC chairman if he becomes the next US President. Mainstream crypto media outlets are covering this statement extensively: Trump pledges to fire SEC Chair Gary Gensler ‘on day one’ if reelected. That might be the reason why already there is speculation that the current SEC chairman may resign by early 2025.

[zasad@]

Colleagues, I don't know how similar cases are handled in America, but in Russia, if any organization is fined by government agencies or criminal proceedings are initiated against it, then look who benefits.
Gary Gensler is not a scumbag, he does what his handlers tell him to do. Why fire an experienced person when he can be ordered to fine companies 10-100 times less and everyone will be happy?
Well, in America, these cases are solved by negotiating the amount of the fine with the state authorities.