Current SEC Chairman Expected to Resign in Early 2025

Bittime - 10x Research estimates that there is a possibility that the current SEC Chairman, Gary Gensler, will step down in early 2025. This news comes after President Joe Biden withdrew from the 2024 US election.

US Politics and Its Impact on Bitcoin

With Joe Biden withdrawing from the 2024 US elections, many predict that Donald Trump will return to the White House. This will have a big impact on the crypto market, especially Bitcoin. 

A pro-crypto government is predicted to take over, which, according to historical experience, is often followed by the resignation of the SEC chairman when a new government is elected.

Although Gary Gensler's term as SEC Chairman will only end on June 5, 2026, speculation indicates that he will most likely step down in January or February 2025. This is because a change in administration usually brings changes in the leadership of important institutions like the SEC.

Gensler and the SEC's Policy on Cryptocurrencies

During his tenure, Gary Gensler has been known as a firm figure in regulating the cryptocurrency market. It has taken a number of steps to monitor and regulate this market, including issuing various enforcement actions against entities deemed to be violating regulations. 

Some of these are actions against Initial Coin Offerings (ICOs) that do not comply with the rules and action against trading platforms that are deemed to be operating illegally.

However, Gensler's strict regulations have also raised criticism from crypto players who feel that regulations that are too strict could hinder innovation and growth in this industry. 

Therefore, his resignation will probably be seen as an opportunity to adopt a more crypto-friendly approach under the new government.

Speculation about Bitcoin

In addition to the news about Gensler's possible resignation, rumors are circulating that the SEC may settle a major case in the near future. 

On the other hand, former President Donald Trump is scheduled to deliver a major speech in Nashville, which many expect will announce Bitcoin as a strategic reserve asset. If this really happens, Bitcoin prices are predicted to experience a significant increase.

In this context, it makes sense for the crypto community to speculate about the impact of pro-crypto policies that the Trump administration might adopt. 

With Gensler's resignation, there are hopes that regulations on crypto will become looser, allowing the market to grow and develop more freely.

How to Buy Crypto with Bittime

You can buy and sell crypto assets in an easy and safe way through Bittime. over is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Monitor graphic movement price Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.