Gensler reflects on his tenure, crypto clashes, and the future of regulation as he exits the SEC.
Gary Gensler Reflects on His Tenure
Outgoing SEC Chair Gary Gensler remains unwavering in his stance on cryptocurrency regulation as he prepares to leave office on Jan. 20. Speaking to Yahoo Finance, Gensler criticized many digital assets as “highly speculative” and raised concerns about their “true use case” and “value proposition.”
Clashes with Crypto Giants
Gensler’s tenure included high-profile lawsuits against major crypto companies, such as Coinbase. While Coinbase’s Chief Legal Officer Paul Grewal responded with veiled criticism on X, the crypto industry awaits a shift under the incoming Trump administration.
Future SEC Leadership
President-elect Donald Trump has pledged to replace Gensler with crypto lawyer Paul Atkins, who advocates for clear regulations that balance oversight and innovation. This potential policy pivot is anticipated to impact the regulatory landscape.
Gensler Defends SEC’s Record
Gensler dismissed claims that his regulatory approach contributed to Democrats’ loss in the 2024 election, attributing it instead to economic factors like inflation. He also highlighted achievements during his tenure, such as reforms in Treasury markets and reducing the settlement cycle to one day.
Mixed Signals on Crypto Adoption
Despite his strict stance, Gensler approved spot Bitcoin ETFs from BlackRock and other firms, influenced by court rulings. However, he expressed skepticism about a proposed US Bitcoin reserve, stating that monetary policy should remain government-backed.
More Actions Before Departure
In his final days, Gensler hasn’t ruled out additional enforcement actions, reaffirming the SEC’s commitment to its regulatory duties. Recent fines against Robinhood highlight the SEC’s active role in addressing compliance issues.
A Legacy of Controversy and Change
As Gensler exits, the crypto industry anticipates significant shifts under new leadership, with debates about innovation, oversight, and the future of digital assets continuing to evolve.
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