Cryptocurrencies
Crypto Tokens Targeted by US SEC Jump on Gensler’s Planned Exit
- SEC lawsuits flagged some tokens as unregistered securities
- Traders expect friendlier rules when Trump returns to power
This article is for subscribers only.
Digital assets flagged as unregistered securities by the US Securities and Exchange Commission are rallying after the agency’s Chair Gary Gensler, the industry’s bete noire, announced that he plans to step down.
Crypto supporter Donald Trump had vowed to fire Gensler, who now intends to exit in January on the day the president-elect is due to be inaugurated. Gensler is a trenchant critic of alleged non-compliance and risky practices in the digital-asset sector, which two years ago was disgraced by spectacular blowups.