Gary Gensler Plans to Step Down From SEC in January

-- SEC Chair Gary Gensler, whose ambitious agenda drew fierce resistance from Wall Street and the crypto industry, plans to step down on Jan. 20. The Trump administration’s coming pick for SEC chair could try to further unwind Gensler’s signature rules and take a more crypto-friendly approach to enforcement. “That agenda ran face first into an onslaught of litigation.” Crypto Landscape Trump’s SEC will probably ease enforcement against brokers, banks and hedge funds for using third-party messaging apps to communicate. Trump, who embraced cryptocurrency during his campaign, told supporters earlier this year he would fire Gensler on “day one.” Robinhood Markets Inc. legal chief Dan Gallagher, former SEC Commissioner Paul Atkins, and Robert Stebbins, a partner at Willkie Farr & Gallagher, have been considered to be possible Trump picks to lead the agency, Bloomberg News reported earlier this month.