SEC Gary Gensler will be gone on December 31, experts say

As speculation grows over SEC Chairman Gary Gensler's future, many are asking when he will leave and who might replace him. Digital Chamber's Cody Carbone weighed in on the topic in an interview with Thinning Crypto, suggesting that Gensler's recent speech in New York may have been a subtle farewell address. Carbone said many in the room shared that sentiment, an atmosphere that suggests Gensler is getting ready to step out of the role.

It is common for the SEC chairman to step down when a different party takes over a new administration, usually in November or December. “I think his days are numbered,” he added. I wouldn't be surprised if it was gone by the end of the day, by the end of the week, or before the end of the year. But I think that's the timeline I'm looking at – December 31st, I think he's gone.

Given the upcoming presidential inauguration, Carbone believes Gensler's days at the SEC are numbered. Gensler estimates it could be gone by the end of the week or December 31st.

“Historically, around this time, around November, December, if a different party administration is coming in, it's normal for the SEC chairman to step down. And I don't think there's any illusion that he's going to be there on Inauguration Day, when Trump is sworn in, that he's going to stay at the SEC or that he's going to be interested in stepping down as commissioner. he said.

If Gensler steps down, the SEC could have an executive chair in place. When the new administration takes office, the acting chairman may be one of the Republican commissioners. The timing of Gensler's departure is uncertain, but it is expected that a change in leadership at the SEC will follow soon, with a new chairman likely to take over in 2025.

Ripple Vs SEC:

The SEC filed charges against Ripple Labs in December 2020, alleging that the company raised more than $1.3 billion by selling unregistered securities for XRP. Now with the latest appeals, the process is expected to take several months, and there could be significant legal disputes before a final decision is reached. However, with a change in leadership, there may be some clarity.