“The Securities and Exchange Commission is a remarkable agency,” said Gensler, who previously held roles in the Clinton and Obama administrations and was confirmed as SEC chair in March 2021.
“The staff comprises true public servants. It has been an honor of a lifetime to serve with them on behalf of everyday Americans and ensure that our capital markets remain the best in the world.”
“I thank President Biden for entrusting me with this incredible responsibility,” he continued. “The SEC has met our mission and enforced the law without fear or favor.”
Like many of President Biden’s appointees, Gensler was expected to step down ahead of Trump’s inauguration. Federal Communications Commission Chair Jessica Rosenworcel announced Wednesday that she will also depart on Jan. 20.
Gensler has drawn the ire of the business community on multiple fronts, and the cryptocurrency industry has been especially critical.
They have accused Gensler of regulating by enforcement and failing to provide clarity on the rules of the road for digital assets.
As the president-elect increasingly embraced the crypto industry, the SEC chair even became a target of Trump, who vowed he would remove Gensler if elected at a bitcoin conference over the summer.
The Hill's Julia Shapero has more here.
