Gary Gensler Loses Government Checkmark

Gary Gensler, the former chair of the U.S. Securities and Exchange Commission, has officially lost his gray government checkmark on the X social media network.

This marks the end of the agency's Gensler era, which has been associated with a crackdown on the broader cryptocurrency industry.  

The cryptocurrency community celebrated the symbolic removal of the checkmark as the start of a new chapter for cryptocurrency regulation in the U.S. 

After billionaire Elon Musk took over the social media network and rebranded it to X, it started applying multiple visual identity signals beyond the original blue checkmarks. 

It introduced gold checkmarks for verified organizations as well as gray checkmarks for accounts representing governmental or multilateral affiliations. 

In one of his latest posts, Gensler stated that it was "the privilege of a lifetime" for him to work as the head of the SEC. 

As  reported by U.Today , Republican SEC Commissioner Mark Uyeda was recently appointed as the agency's new acting chair. Uyeda is known as a vocal critic of the anti-crypto policies enacted by the previous administration. He has repeatedly urged the agency to come up with clear crypto guidelines and frameworks. He has also been a supporter of the FIT 21 bill, which would give more power to the CFTC when it comes to regulating crypto.   

Former SEC Commissioner Paul Atkins is expected to take the helm of the SEC in the near future, once he gets confirmed by the Senate.  

Meanwhile, Caroline Pham, another crypto proponent, has been selected to temporarily spearhead the SEC. 

"For the first time ever, the SEC and CFTC are in the hands of leaders who oppose regulation by enforcement and support clear rules of the road for crypto," Jake Chervinsky of Variant said on social media.