Gary Gensler steps down as chair of Securities and Exchange Commission (SEC)

. . ahead of the change in administration. Gensler was responsible for 46 enforcement actions against cryptocurrency operations in the past year. The Commission's work led to the successful convictions of Sam Bankman-Fried and Chanpeng Zhao for fraudulent activity. He previously described cryptocurrency as an industry "rife with fraud and hucksters and grifters".

Kristin Smith, Chief Executive of the Blockchain Association said "Gary Gensler is going to go and everyone in the crypto community is incredibly excited".

Be afraid. Be sceptical and vigilant. And keep your money securely within your (non-electronic) wallet.

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whowasthatmaskedman · 70-79, M

The guardians are abandoning the ramparts. The pirates are coming..😷

SunshineGirl · 36-40, F

@whowasthatmaskedman He left before his inevitable ejection next year. I find the lack of independence of important administrative departments from the executive quite worrying.

whowasthatmaskedman · 70-79, M

@SunshineGirl The pattern will be repeated through the government sector. Those who despise Trump and those who have disagreed with him publicly or have public political positions not aligned with him. As well as those confident of their ability to move a career forward elsewhere. Remember how many experts are predicting negative outcomes under the coming administration. Few want that record on their resume..😷