**Gary Gensler Reaffirms Strict Crypto Policies Amid Speculation of Trump-Led Ouster**

In a recent speech, United States Securities and Exchange Commission (SEC) Chair Gary Gensler emphasized his firm stance on crypto policy and enforcement, as rumors swirl about his potential removal by President-elect Donald Trump. Delivering his prepared remarks at the Practicing Law Institute's 56th Annual Institute on Securities Regulation on November 14, Gensler highlighted his tenure's focus on ensuring crypto entities comply with SEC regulations.

Gensler reiterated the importance of transparency and proper disclosure for the approximately 10,000 tokens deemed securities, stressing that under his leadership, the SEC has aimed to hold crypto firms accountable. He noted the commission's progress in approving spot Bitcoin exchange-traded funds (ETFs) and Bitcoin futures investment vehicles. However, he also pointed out that some crypto firms have failed to adhere to the "common-sense rules of the road," resulting in significant investor harm over the years.

"The vast majority of crypto assets have yet to demonstrate sustainable use cases," Gensler remarked. "Our actions have been centered around ensuring compliance with our laws, addressing speculative investing, and mitigating potential illicit activities."

While Gensler's term as SEC chair is not due to end until June 2026, Donald Trump has pledged to remove him "on day one" if elected president. This promise signals a possible shift in the commission's approach to crypto regulation. Although legal experts believe Trump cannot remove Gensler without cause, the SEC chair has given no indication of stepping down voluntarily.

Following Trump's reelection on November 5, proponents of cryptocurrency have been urging the Republican to honor his commitments to the industry, including ensuring all Bitcoin is "made in the USA," granting clemency to Silk Road founder Ross Ulbricht, and halting the development of a central bank digital currency.

The potential for Trump's follow-through on these promises remains uncertain, as does his capability to swiftly remove Gensler from office. Any successor to Gensler would need Senate approval, yet Trump has suggested he might circumvent this requirement through recess appointments for his administration. As of now, no replacement for Gensler has been officially announced.