In a post on X, Gensler confirmed he would resign from the US Securities and Exchange Commission (SEC) on 20 January.
Trump had previously said he intended to fire Gensler on "day one" of his presidency after the chair of the SEC took legal action against cryptocurrency trading and platforms.
"I thank President Biden for entrusting me with this incredible responsibility," Gensler wrote.
Gensler was appointed chair of the SEC in 2021 and immediately called on Congress to give him more powers to regulate the "wild west" crypto-sector, saying that it was "rife with fraud, scams and abuse".
This story is from the November 23, 2024 edition of The Guardian.
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This story is from the November 23, 2024 edition of The Guardian.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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