{"id":128967,"date":"2024-11-23T00:08:47","date_gmt":"2024-11-22T17:08:47","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=128967"},"modified":"2024-11-23T00:08:47","modified_gmt":"2024-11-22T17:08:47","slug":"bitcoin-rises-after-sec-chair-says-he-is-to-step-down-when-trump-is-inaugurated-securities-and-exchange-commission","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=128967","title":{"rendered":"Bitcoin rises after SEC chair says he is to step down when Trump is inaugurated | Securities and Exchange Commission"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p class=\"dcr-1eu361v\">Cryptocurrencies have risen sharply after one of the industry\u2019s biggest critics, Gary Gensler, said he would stand down as the head of the US financial regulator when president-elect Donald Trump was inaugurated in January.<\/p>\n<p class=\"dcr-1eu361v\">In a post on X, Gensler confirmed he would resign from the US <a href=\"https:\/\/www.theguardian.com\/business\/securities-and-exchange-commission\" data-link-name=\"in body link\" data-component=\"auto-linked-tag\">Securities and Exchange Commission<\/a> (SEC) on 20 January.<\/p>\n<p class=\"dcr-1eu361v\">Trump had previously said he intended to fire Gensler on \u201cday one\u201d of his presidency after the chair of the SEC took legal action against cryptocurrency trading and platforms.<\/p>\n<p class=\"dcr-1eu361v\">\u201cI thank President Biden for entrusting me with this incredible responsibility,\u201d Gensler wrote in the post on X.<\/p>\n<p class=\"dcr-1eu361v\">Gensler was appointed chair of the SEC in 2021 and immediately called on Congress to give him more powers to regulate the \u201cwild west\u201d crypto-sector, saying that it was <a href=\"https:\/\/www.theguardian.com\/technology\/2021\/aug\/03\/cryptocurrency-sec-regulation\" data-link-name=\"in body link\">\u201crife with fraud, scams and abuse\u201d.<\/a><\/p>\n<p class=\"dcr-1eu361v\">Bitcoin extended its recent rally on Friday morning, <a href=\"https:\/\/www.theguardian.com\/business\/live\/2024\/nov\/22\/british-households-energy-bills-rise-fall-january-retail-sales-eurozone-us-economies-business-live-news\" data-link-name=\"in body link\">hitting $99,500<\/a> (\u00a379,463) for the first time. Ether has risen more than 7% in the last 24 hours, while the \u201cmeme coin\u201d doge rose 2%.<\/p>\n<p class=\"dcr-1eu361v\"><a href=\"https:\/\/www.coindesk.com\/markets\/2024\/11\/22\/bitcoin-nears-100k-with-crypto-market-cap-at-record-34t\/\" data-link-name=\"in body link\">According to the digital currency news site CoinDesk<\/a>, the total market capitalisation of crypto coins is now a record $3.4tn, having added 4.5% in the past 24 hours.<\/p>\n<p class=\"dcr-1eu361v\">Officially, Gensler\u2019s five-year term at the SEC was meant to run until 2026, however it has become common practice for the chair to leave when the presidency changes.<\/p>\n<p class=\"dcr-1eu361v\">Under Gensler, the SEC pushed through rules seeking to bring more transparency to markets and improve corporate disclosure.<\/p>\n<p class=\"dcr-1eu361v\">However, he had a number of legal defeats in his attempt to tighten regulation.<\/p>\n<p class=\"dcr-1eu361v\">On the day he announced his resignation, a federal court in Texas threw out the SEC\u2019s new rules for the $27tn US Treasury market, finding that the regulator had exceeded its authority.<\/p>\n<p class=\"dcr-1eu361v\">\u201cThe SEC has met our mission and enforced the law without fear or favor,\u201d Gensler said in his X post on Thursday.<\/p>\n<p class=\"dcr-1eu361v\">Trump holds more pro-crypto views and the value of cryptocurrencies have been rising since he won the US election<a href=\"https:\/\/www.theguardian.com\/business\/live\/2024\/nov\/22\/british-households-energy-bills-rise-fall-january-retail-sales-eurozone-us-economies-business-live-news\" data-link-name=\"in body link\">.<\/a><\/p>\n<p class=\"dcr-1eu361v\">Crypto firms have donated at least $119m to congressional candidates they think will pass legislation that is more favourable to their aims.<\/p>\n<p class=\"dcr-1eu361v\">In his time as SEC chair, Gensler\u2019s regulatory efforts also included new standards for climate disclosures and cybersecurity and market changes.<\/p>\n<figure data-spacefinder-role=\"inline\" data-spacefinder-type=\"model.dotcomrendering.pageElements.NewsletterSignupBlockElement\" class=\" dcr-173mewl\"><a data-ignore=\"global-link-styling\" href=\"#EmailSignup-skip-link-15\" class=\"dcr-jzxpee\">skip past newsletter promotion<\/a><\/p>\n<aside aria-label=\"newsletter promotion\" class=\"dcr-av5vqf\">\n<div class=\"dcr-10et71f\">\n<p class=\"dcr-rsfwa\">Sign up to <span>Business Today<\/span><\/p>\n<\/div>\n<p class=\"dcr-1xjndtj\">Get set for the working day \u2013 we&#8217;ll point you to all the business news and analysis you need every morning<\/p>\n<p><gu-island name=\"SecureSignup\" priority=\"feature\" deferuntil=\"visible\" props=\"{&quot;newsletterId&quot;:&quot;business-today&quot;,&quot;successDescription&quot;:&quot;Get set for the working day \u2013 we'll point you to all the business news and analysis you need every morning&quot;}\"\/><span class=\"dcr-1eusqlu\"><strong>Privacy Notice: <\/strong>Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our <a data-ignore=\"global-link-styling\" href=\"https:\/\/www.theguardian.com\/help\/privacy-policy\" rel=\"noreferrer\" class=\"dcr-1rjy2q9\">Privacy Policy<\/a>. We use Google reCaptcha to protect our website and the Google <a data-ignore=\"global-link-styling\" href=\"https:\/\/policies.google.com\/privacy\" rel=\"noreferrer\" class=\"dcr-1rjy2q9\">Privacy Policy<\/a> and <a data-ignore=\"global-link-styling\" href=\"https:\/\/policies.google.com\/terms\" rel=\"noreferrer\" class=\"dcr-1rjy2q9\">Terms of Service<\/a> apply.<\/span><\/aside>\n<p id=\"EmailSignup-skip-link-15\" tabindex=\"0\" aria-label=\"after newsletter promotion\" role=\"note\" class=\"dcr-jzxpee\">after newsletter promotion<\/p>\n<\/figure>\n<p class=\"dcr-1eu361v\">However, a US appeals court threw out rules that would have forced private equity and hedge funds to increase transparency.<\/p>\n<p class=\"dcr-1eu361v\">A series of lawsuits also prompted the SEC to halt a measure that for the first time would have required companies to disclose their climate risks.<\/p>\n<p class=\"dcr-1eu361v\">Trump will nominate Gensler\u2019s successor and is expected to appoint someone who will seek to deregulate and potentially discard rules proposed by the outgoing SEC chair but not yet finalised.<\/p>\n<p class=\"dcr-1eu361v\">In remarks made before Gensler\u2019s resignation announcement, Ken Griffin, the billionaire founder of the hedge fund Citadel, said: \u201cOver the last four years, there were a number of rule changes proposed where, to be blunt, it\u2019s like: \u2018What problem are we trying to solve?\u2019\u201d<\/p>\n<p class=\"dcr-1eu361v\">\u201cMuch of Gensler\u2019s agenda will not survive, in my opinion, the next four years. Between the courts and a new SEC, we\u2019re going to see a rollback of the regulatory onslaught,\u201d Griffin told the Economic Club of New York on Thursday.<\/p>\n<p class=\"dcr-1eu361v\">The Trump transition team is reportedly considering Teresa Goody Guill\u00e9n, a securities lawyer, to lead the SEC, according to CoinDesk.<\/p>\n<p class=\"dcr-1eu361v\">She is the co-leader of the blockchain team at the law firm BakerHostetler, and has defended crypto firms and individuals facing investigations and enforcement actions brought by the SEC.<\/p>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.theguardian.com\/business\/2024\/nov\/22\/bitcoin-rises-sec-chair-gary-gensler-to-step-down-trump-inaugurated\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrencies have risen sharply after one of the industry\u2019s biggest critics, Gary Gensler, said he would stand down as the head of the US financial regulator when president-elect Donald Trump &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=128967\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-128967","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/128967","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128967"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/128967\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128967"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128967"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128967"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}