SEC Chair Gary Gensler to step down on Jan. 20
The head of the Securities and Exchange Commission, Gary Gensler, will step down on Jan. 20, 2025, the agency announced Thursday.
Gensler has faced fierce opposition from the cryptocurrency industry and Wall Street over his tough regulatory agenda. Trump had vowed to fire him, drawing praise from the crypto industry.
Gensler's five-year term was not set to run out until 2026, but it was widely expected that he would resign.
"The SEC has met our mission and enforced the law without fear or favor," Gensler said in a press release.
His resignation will leave a key post for Trump to fill -- the SEC serves as Wall Street's top regulator.
-ABC News' Elizabeth Schulze