SEC boss Gensler should step down immediately

By Nigel Green

Gary Gensler’s time as SEC chairman needs to end—immediately. His leadership has stifled the growth of digital assets in the US, pushing innovation out and creating a chilling effect across the crypto landscape.

For a sector driven by rapid advancements, the lack of regulatory clarity from the SEC is damaging America’s competitive edge in the digital economy. With a new Trump administration coming in, focused on a pro-crypto stance, the urgency for change at the SEC has never been clearer.

Gensler’s approach has been marked by “regulation by enforcement.” Instead of providing a clear framework for digital assets, the SEC has relied on punitive actions, leaving crypto firms and investors in constant uncertainty.

This unpredictable regulatory environment has turned the US into a risky place to operate, causing crypto talent and businesses to explore more welcoming markets overseas. American innovation can’t afford to wait for bureaucratic red tape to catch up.

President-Elect Trump’s transition team has floated Dan Gallagher, a former SEC commissioner and current advocate for a balanced approach to crypto, as a potential successor.

Gallagher has been outspoken in his criticisms of Gensler’s tactics, highlighting the damage done by the SEC’s ambiguous stance on digital assets. Gallagher has called for a regulatory environment that promotes growth rather than fear—a stance that aligns with the industry’s need for clearer, more supportive policies.

Why immediate change matters

The stakes are high. Every day that Gensler remains in office is a day that America falls behind in digital finance.

Blockchain and crypto are reshaping global markets, and the U.S. risks losing its influence over this emerging sector. If America doesn’t lead in setting standards for digital assets, other nations will, and they’ll be the ones attracting top talent, investment, and innovation.

It’s not too late for the United States to reclaim its position. With fresh leadership at the SEC, the agency could move beyond outdated frameworks and embrace a more pragmatic approach to crypto.

A new chair could help the SEC focus on protecting investors while supporting responsible innovation, creating an environment where the digital economy can flourish domestically instead of fleeing abroad.

Gensler’s legacy

Gensler’s tenure will be remembered as one of missed opportunities in crypto. His rigid stance has not protected investors so much as it has slowed progress and limited choices for American consumers. The promise of blockchain technology and digital assets to revolutionize finance is being stifled by fear-driven regulation.

With a pro-crypto administration set to take office, the time is ripe for a leadership overhaul at the SEC. By stepping down, Gensler would make way for a regulator who sees crypto as the future of finance rather than a threat.

America deserves a forward-looking SEC chair who will champion innovation and ensure that the U.S. becomes a true global hub for digital assets.

For the industry, for investors, and for America’s economic future, Gensler must go now. It’s time to bring in a leader who can help the US embrace the transformative potential of digital assets.

Author Bio

Nigel Green,  is deVere Group CEO and Founder