US crypto industry’s biggest election win? Gary Gensler’s likely departure
The crypto industry poured millions of dollars into the presidential and congressional races, but its most salient election victory is likely to be the departure of US Securities and Exchange Commission (SEC) Chair Gary Gensler.
The former Goldman Sachs banker has led the strongest regulatory crackdown on the digital-asset industry, bringing dozens of cases against crypto companies and traders large and small, including financial behemoths Coinbase Global and proprietary trading firm DRW Holdings.
President Donald Trump’s decisive victory all but ensures a pullback on crypto-related enforcement once he takes office. In July, Trump pledged to fire Gensler on the first day of his second administration while headlining a bitcoin conference…
