Gary Gensler has announced that he will step down as chairman of the US Securities and Exchange Commission (SEC).
The agency announced Thursday that Gensler's departure will be effective Jan. 20, 2025.
Under his leadership, the SEC has successfully fulfilled its mission of enforcing laws and protecting investors. Gensler also thanked Congress, his counterparts in the US government and regulators in other countries for their support.
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Since taking office in April 2021, Gensler has spearheaded efforts to promote central clearing in the Treasury markets.
He has also continued to prioritize investor protection in the cryptocurrency markets. He has brought actions against large companies in the sector, including Coinbase and Binance.
Gensler said in the statement:
"The staff and the Commission are deeply mission-driven, focused on protecting investors, facilitating capital formation, and ensuring that the markets work for investors and issuers alike. The staff comprises true public servants."