U.S. Securities and Exchange Commission Chair Gary Gensler — a known opponent of the cryptocurrency realm — has declared his intention to completely exit the agency on the day Donald Trump becomes president in January.

In a pivotal announcement, Gensler stated he will not only resign as chairman but will also leave his role as commissioner, indicating he won't defend his regulatory strategies, which have notably included stringent measures against cryptocurrencies.

According to a SEC press release, Gensler's resignation will take effect at noon on January 20, coinciding with Trump's inauguration. Gensler remarked, "The SEC is a remarkable agency," emphasizing his appreciation for the staff's dedication to investor protection and market integrity.

Gensler's tenure, which began in April 2021, was marked by significant enforcement actions fluctuating between crypto exchanges and issuers. He spearheaded legal actions against major platforms, including Binance and Coinbase, alleging they operated without proper registration.

With Gensler's departure, the commission will lack a definitive majority until Trump's forthcoming nominee is confirmed by the Senate, which may delay major enforcement actions or policy changes.