Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), has stepped down.

Cryptocurrency trader MartyParty announced that “SEC Chairman Gary Gensler has officially resigned.” The SEC also released a video of Chairman Gensler's thoughts on his retirement on its official YouTube channel. However, there was no mention of cryptocurrency in this video. Earlier, Gensler said, “Not all assets are securities. “Neither I nor former SEC Chairman Jay Clayton have ever said that Bitcoin and Ethereum are securities,” ‘Most cryptocurrencies have yet to demonstrate a sustainable use case other than speculation and illegal activity,’ and ”There is a lot of fraud in the cryptocurrency industry, and this is no coincidence.” The SEC, led by Gensler, has taken about 100 enforcement actions in four years and sent notices of Wells Notice (notice requiring preliminary clarification from potential litigants) to ConsenSys, Uniswap, OpenC, Immutable, and Crypto.com. In this regard, the cryptocurrency industry has been criticizing the 'enforcement-oriented regulation,' and US President-elect Donald Trump, who is set to take office on the 21st (Korean time), has stated that he will fire Gensler as soon as he takes office.