As his term as SEC chair ends, Gary Gensler gives an interview to CNBC, discussing his vision for the crypto market and his achievements during his leadership.
Trump 2.0: Crypto policy of the administration
Gensler noted that donors from the crypto field actively supported Trump's campaign. However, he emphasized that the elections were not about crypto. He stressed that the new administration will aim to curb law violations, regardless of its purported support for cryptocurrencies.
Cryptos as securities? Gensler's stance
Throughout his term, Gensler has consistently argued that most cryptocurrencies are unregistered securities. He insists that companies must comply with the laws regulating securities. Instead of crafting new regulations, he applied existing laws, often found inadequate for the crypto market.
Bitcoin vs other cryptocurrencies: Different approach
Gensler stated that Bitcoin is not a security, while other cryptocurrencies pose a risk to investors. He notes that after his departure, Bitcoin remains popular despite his efforts. He claims that exchanges manipulate their customers, which warrants intervention.
The interview illustrates Gensler's transformation from a tech enthusiast to a staunch opponent of cryptocurrencies. In the future, Gensler's view on Bitcoin and other cryptocurrencies may evolve.
