SEC Chair Gary Gensler will step down from his position on Jan. 20, paving the way for President-elect Donald Trump to nominate a new head of financial markets regulation.

The top US securities regulator, a skeptic towards cryptocurrency who was appointed by President Joe Biden, announced Thursday he will step down in January when Donald Trump takes office.

Gary Gensler will step down as chair of the U.S. Securities & Exchange Commission at noon on Inauguration Day, the agency announced on Thursday. From a report: Gensler has had an aggressive tenure, marked by controversial rulemaking and a combative approach with the cryptocurrency industry....