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New York, (APP - UrduPoint / Pakistan Point News - 22nd Nov, 2024) The US securities regulator, a skeptic towards who was appointed by President Joe Biden, announced Thursday he will step down in when takes office. Gensler, chair of the Securities and Commission (SEC), said he will resign on 20, the day assumes the presidency. The move clears the way for the president-elect to pick Gensler's successor. The comes as hit a fresh record, trading above $99,000 and nearing the symbolic $100,000 level. Gensler's five-year term does not end until 2026, but agency chairs customarily step down when the party of presidential administration turns over. During the campaign, promised to him. Gensler took office in 2021 shortly after the so-called "meme stock" frenzy in 2021 prompted massive volatility in GameStop and a handful of other . A former mergers and acquisitions partner at Goldman Sachs, Gensler led rulemaking proposals intended to improve efficiency in capital . But his future in looked precarious in light of the SEC's confrontational approach to throughout the Biden years. Gensler referred to crypto as "the Wild West." During the campaign, drew heavy financial support backers, some of whom are also close to the Republican's close ally, and CEO . In the absence of clear regulations, Gensler took an aggressive stance toward digital currencies, treating them like traditional financial securities such as and . The approach has prompted SEC lawsuits against major trading platforms including Binance, Coinbase, and Kraken, along with various smaller startups. Legislation currently in would shift oversight of supervision to the Commodity Futures Trading Commission, known for its lighter-touch approach to regulation. Gensler thanked Biden and fellow commissioners, saying in a statement, "The SEC has met our mission and enforced the law without fear or favor." But the SEC's announcement drew cheers the crypto . The Blockchain Association posted a waving hand emoji on X in response to Gensler's impending exit, while its CEO, Kristin Smith, noted the announcement came the day as a favorable US ruling in Texas for . The Texas ruling constitutes "a fitting turning point of the SEC's harassment campaign of the crypto , and the beginning of a new era," Smith said on X. Smith warned Gensler against "sneak" last-minute enforcement and called for a "better-functioning" SEC that avoids overreach and is willing to work "with to find fit-for-purpose solutions." Hailey Lennon, a partner at law firm Brown Rudnick who was formerly general counsel at Coinbase, said the SEC under Gensler "played gatekeeper and stalled innovation." Citing Gensler's departing comments, she wrote on X that "saying the SEC has regulated without fear or favor is insane gaslighting."South Carolina is off to an uneven start, but that hasn't obscured the steady rise of Collin Murray-Boyles. The 6-foot-7 sophomore will be the player to watch when South Carolina (6-3) hosts South Carolina Upstate (4-8) Saturday afternoon in Columbia. Murray-Boyles leads the Gamecocks in points (16.2), rebounds (9.4), steals (1.2) and blocks (1.1) per game. As South Carolina struggled to a 75-68 victory over East Carolina on Saturday, Murray-Boyles carried the Gamecocks, making all 10 of his shots from the floor and finishing with 20 points and 10 rebounds. "He's been working on pivoting towards the basket and getting on balance and then making a strong move through some contact," South Carolina coach Lamont Paris said. The Gamecocks have been highly dependent on Murray-Boyles. In the two games in which he has fouled out, South Carolina lost to Xavier and Indiana. Meanwhile, the Gamecocks are unbeaten in the six games in which he has collected at least eight rebounds. "He's still growing and it's exciting to see," Paris said. "He's got phenomenal natural touch." Also emerging lately have been Norfolk State transfer Jamarii Thomas, who had season highs of 22 points and seven assists against East Carolina, and Morris Ugusuk, who has hit 10 of 14 shots from 3-point range in the last three games. South Carolina Upstate has been sparked by a pair of guards who each have won multiple Big South freshman of the week awards. Carmelo Adkins had 31 points and 12 rebounds in wins last week over Division III Brevard and at Western Carolina, while Mister Dean leads the Spartans in points (15.7), rebounds (5.6) and steals (2.0) per game. "He sparks runs because he'll make a dynamic dunk," Spartans coach Marty Richter said of Dean. "He brings energy with how he scores the basketball, in a hurry. He can score in bunches." The Spartans enter on a high as the win over Western Carolina was Richter's first over a Division I team. South Carolina Upstate is 1-8 all-time against South Carolina. This year, the Spartans are winless in four games against power conference schools. In an 85-80 loss a month ago at Wake Forest, however, they led for much of the second half. --Field Level Media
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