Gensler Defends His Crypto Policy
in Farewell Speech, Prepares
forTrump• Объект человек » Персоналии по алфавиту » Персоналии на Тр » Трамп, Дональд s Replacement
Gary Gensler, current Chair of the SEC, gave a speech today fervently
defending his strict regulatory policies against the crypto industry.
President• Соединённые Штаты Америки (США) » Политика США » Политики США » Президент США
• Соединённые Штаты Америки (США) » Государственное устройство США » Президент США
• Политика » Политика США » Политики США » Президент США
• Государство » Государственное устройство США » Президент США-elect Donald Trump• Объект человек » Персоналии по алфавиту » Персоналии на Тр » Трамп, Дональд vowed to fire Gensler, who appeared to accept his
ousting.
Gensler remained defiantly critical of the crypto industry, calling it a field
of significant investor harm.
Gensler s Defiant Speech
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In a recent public appearance , controversial SEC Chair Gary Gensler delivered
what seemed like a farewell speech. Gensler began with the topic
of effective administration and the history of securities laws
in the US.
He then proceeded to defend his stubborn regulatory policies, which had become
a critical pain point for the US crypto industry over the years.
This is a field in which over the years there has been significant
investor harm. Further, aside from speculative investing and possible use for
illicit activities, the vast majority of crypto assets have yet to prove out
sustainable use cases, said Gensler.
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The context for this speech is very clear, as the new president• Соединённые Штаты Америки (США) » Политика США » Политики США » Президент США
• Соединённые Штаты Америки (США) » Государственное устройство США » Президент США
• Политика » Политика США » Политики США » Президент США
• Государство » Государственное устройство США » Президент США-elect, Donald
Trump• Объект человек » Персоналии по алфавиту » Персоналии на Тр » Трамп, Дональд, vowed to remove Gensler as SEC Chair . As BeInCrypto recently reported,
Trump• Объект человек » Персоналии по алфавиту » Персоналии на Тр » Трамп, Дональд s transition team is already considering three pro-crypto
candidates to replace Gensler in January.
Furthermore, Trump• Объект человек » Персоналии по алфавиту » Персоналии на Тр » Трамп, Дональд made a series of pledges to revolutionize crypto regulation
in the US. These will target both federal regulators and the legislature. Even
if Trump• Объект человек » Персоналии по алфавиту » Персоналии на Тр » Трамп, Дональд cannot fire Gensler outright, his vision for crypto enforcement is
finished.
A Failed Approach To Crypto Policy
Since the SEC approved Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin ETFs, Gensler s hostility has seen
increased pushback from other government officials. The country s
attitude towards positive crypto regulations has changed, with increasing
bipartisan support in the electorate.
Nevertheless, Gensler maintained his hawkish stance. He said that
crypto-related actions have constituted 5-7% of the SEC s entire
enforcement efforts since 2021.
However, despite targeting the industry in this outsized manner, he added that
the Commission focused on 10,000 or so digital assets besides
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin, Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum, or stablecoins. That s less than 20% of the actual
crypto market.
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Clearly, his strategy of aggressively pursuing smaller assets is
unsustainable. Gensler concluded his speech by reminding readers that he
eventually approved the Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin ETFs and held them as a model for effective
compliance.
Until the very end, Gensler maintained that he pursued his crypto policies on
behalf of the public good. From his closing remarks, it seems apparent that
Gensler is preparing to resign or otherwise leave the SEC.
Donald Trump• Объект человек » Персоналии по алфавиту » Персоналии на Тр » Трамп, Дональд has proposed a new policy for crypto regulation, and it s
completely at odds with Gensler s approach. However, if Gensler wishes
to continue working with the industry during Trump• Объект человек » Персоналии по алфавиту » Персоналии на Тр » Трамп, Дональд s presidency, Justin
Sun offered him a job at Tron .
I’ve been proud to serve with my colleagues at the SEC who, day in and
day out, work to protect American families on the highways of finance,
Gensler concluded.
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