Gary Gensler, the current head of the U.S. Securities and Exchange Commission (SEC), has announced that he will be leaving his position on January 20. The news has been met with celebration in the cryptocurrency industry, as it is expected to mark the end of the "regulation by enforcement" era. Gensler has been criticized by industry leaders, such as Ripple CEO Brad Garlinghouse, for his anti-crypto stance. Under Gensler's leadership, the SEC targeted major cryptocurrency firms, including Coinbase, with enforcement actions. It is currently unclear who will replace Gensler as the next SEC head, but former SEC commissioner Paul Atkins and Robinhood's Dan Gallagher are among the leading candidates.



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