The head of the US financial regulator, Gary Gensler, will resign from his role on the day of President-elect Donald Trump’s inauguration.
Mr Gensler confirmed the news on social media platform X after the Securities and Exchange Commission (SEC) said its 33rd chairman would step down on 20 January next year.
“I thank President Biden for entrusting me with this incredible responsibility. The SEC has met our mission and enforced the law without fear or favor," Mr Gensler said.
Trump revealed plans to sack Mr Gensler on "day one" of his new administration after the chairman took legal action against crypto firms, sparking controversy in some quarters.