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Securities and Exchange Commission Chair Gary Gensler, who was aggressive in his oversight of cryptocurrencies, will step down from his post on January 20. Gensler pushed for changes that he said protected for investors, but the industry and many Republicans bristled at what they saw as overreach. President-elect Donald Trump had promised during his campaign that he would remove Gensler. But Gensler on Thursday announced that he would be stepping down from his post on the day that Trump is inaugurated. Bitcoin has jumped 40 per cent since Trump's victory. It hit new highs and was nearing USD 100,000 Thursday. Bitcoin moved notably higher after his resignation was announced. Perhaps most famously, Gensler gave a speech during the first year of his chairmanship in 2021 where he described the world of crypto as the Wild West. This asset class is rife with fraud, scams, and abuse in certain applications, he said in a speech at the Aspen Security Forum. There's a great deal of hype and
Former President Donald Trump on Saturday laid out his plans to wholeheartedly embrace cryptocurrency if elected for a second term, telling hundreds of cheering supporters of the digital tokens that he wants the US to be a bitcoin superpower under his leadership. In his keynote address at a bitcoin conference in Nashville, Tennessee, the Republican presidential nominee promised to make the United States the crypto capital of the planet and create a bitcoin strategic reserve using the currency that the government currently holds. He also promised to remove Securities and Exchange Commission Chair Gary Gensler if elected and implement a crypto advisory council, teasing the crowd by asking attendees if anyone wanted to join. We will have regulations, but from now on the rules will be written by people who love your industry, not hate your industry, he said. Trump's keynote address at the Bitcoin 2024 conference showed how radically his position on cryptocurrency has changed over time.
Warning the global community about security challenges which have evolved from "dynamite to metaverse" and "hawala to crypto currency", Union Home Minister Amit Shah on Thursday asked G20 member countries to rise above conventional boundaries and share information on real time to check all crimes in the cyber space. Speaking at the 'G20 Conference on Crime and Security in the Age of NFTs, AI & Metaverse', he underlined the threats emanating from cyber criminals using darknet, metaverse, deepfakes, ransomware and toolkit-based misinformation campaigns and strategic targeting of critical information and financial systems. Without taking names, Shah said some anti-social elements and global forces are using technology to cause economic and social harm to citizens and governments. "The G20 has so far focused on digital transformation and data flow from an economic perspective, but now it is important to understand the aspects of crime and security, and find a solution," he said. Shah .