The post Gensler’s Exit, Bitfinex Hack, Bitcoin in the US appeared on BitcoinEthereumNews.com.

The crypto market recorded several important developments this week, from regulatory advancements to significant legal rulings. Taken together, the highlights display how the global cryptocurrency ecosystem continues to advance. The following is a roundup of crucial developments that happened this week but will continue shaping the sector. Gary Gensler’s to Resign as SEC Chair Gary Gensler, Chair of the US Securities and Exchange Commission (SEC), announced his resignation effective January 2025. The crypto industry had long anticipated his departure, which marks the end of a controversial tenure characterized by a strict approach to digital asset regulation. “On January 20, 2025, I will be stepping down as SEC Chair,” he shared. Gensler’s tenure saw multiple enforcement actions against crypto companies, leading to heightened scrutiny of projects like XRP, Solana, Cardano, and others. Against this backdrop, news of his imminent resignation had a notable impact on the cryptocurrency market. XRP, a token at the center of the SEC’s lawsuit against Ripple, and Solana (SOL) experienced significant rallies. The rallies came as the crypto industry now anticipates a leadership change that could introduce clearer frameworks for digital assets. Gensler’s departure coincides with ongoing calls for balanced regulation, offering hope for less adversarial interactions between regulators and the crypto community. US Eyes Crypto-Czar Role The Trump administration is reportedly considering appointing a “crypto-czar” to shape and lead the nation’s approach to digital assets. Chris Giancarlo, the former chair of the Commodity Futures Trading Commission (CFTC), is among those under discussion for the role. Other considerations include Coinbase CEO Brian Armstrong, who drew significant support from Cardano’s Charles Hoskinson. Similarly, Brian Brooks, former BinanceUS and Coinbase executive, is also on the list of considerations. Beyond the crypto-czar role, Trump’s social media and technology company is also in talks to purchase crypto exchange Bakkt. The general…

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Filed under: News - @ November 22, 2024 4:23 pm