The United States Securities and Exchange Commission (SEC) may soon see a new chairman Donald Trump’s projected electoral victorya renowned crypto analyst said on Wednesday.

Analyst Markus Thielen, CEO of crypto research firm 10x Research, wrote in a research note that recent history suggests Gary Gensler will step down in the near future amid impending regime change. The SEC chairman would only be following in the footsteps of his predecessors.

The SEC chairman “typically resigns when a new chairman takes office, consistent with the preferences of the incoming administration,” Thielen wrote.

This previously happened with Jay Clayton, who was appointed by Trump, resigning before the inauguration of Joe Biden. Before that, Barack Obama’s pick, Mary Jo White, resigned on the day of President Trump’s inauguration.

“This practice allows the new president to appoint a president who aligns with their policy goals,” Thielen wrote. “If these historical patterns hold, Gary Gensler could step down in December or January, with a new SEC chair potentially confirmed in April or May.”

Gensler’s impact

Appointed by President Joe Biden in 2021, Gensler led the SEC in an aggressive crackdown on US Crypto Exchanges, decentralized financing projectsand software developerswhich was perceived by many as a hostile stance towards the sector. His term is scheduled to last until 2026.

Donald Trump has repeatedly said he would fire Gensler if electedand suggested that crypto startups would be “living in hell” if he didn’t return to office and help change the course of American regulation.

“I promise the Bitcoin community that the day I take the oath of office, the anti-crypto crusade of Joe Biden and Kamala Harris will end,” Trump said at his Bitcoin 2024 conference in July. “It will end. It will be done.”

Conformable decrypt analysishowever, regulatory protocols state that the president could not remove Gensler from his position without cause. However, the new chairman would have the authority to demote him as chairman and appoint another SEC commissioner in his place.

Republican US Representative French Hill said recently that the SEC should have new leadership next year — regardless of which party controls the White House. He said Gensler’s “fear mongering” at the SEC is unconstitutional and abuses the agency’s regulatory authority.

Edited by Andrew Hayward