It seems Gary Gensler, the SEC chair, isn’t stepping down unless Trump takes office. His tenure is set to last until the end of President Biden’s administration, so he’ll stick around for some time. While this might be great news for Gensler himself, it’s far from ideal for the Securities and Exchange Commission (SEC) with rumors suggesting the body’s declining influence in the cryptocurrency industry.

The rumors circulate that the SEC may lose its regulatory grip on the crypto space, and if it really happens, its authority could be handed over to the Commodity Futures Trading Commission (CFTC). It's worth noting its more crypto-friendly stance. Taking into account the SEC’s strange policy, the CFTC’s relatively accommodating attitude could represent a dream scenario for crypto firms.

The SEC’s antagonistic attitude towards the crypto sector has fostered significant frustration and even toxicity around its brand. It would mark a dramatic and favorable shift for the industry.
The potential transfer of power hasn’t been officially confirmed yet. Still I believe that it would be a good solution. Such a move would entirely reshape the regulatory landscape for crypto. In this connection, the question of who will lead the SEC becomes far less relevant. Instead, the focus shifts to how the CFTC might redefine crypto oversight. Their main goal now is to create favorable conditions to ensure promotion and innovation to the crypto sector. It will hopefully start a new chapter in crypto regulation.