Gary Gensler, the chair of the U.S. SEC, once again emphasizes the need for cryptocurrency exchanges to register and disclose information, amidst potential leadership changes with Donald Trump's election victory.
SEC's Cryptocurrency Regulation
In his speech at the Annual Institute on Securities Regulation, Gensler highlighted his main goal at the SEC: to ensure companies register and provide proper public disclosures. He noted the SEC's success in approving Bitcoin ETFs and Bitcoin futures investment options, yet mentioned some companies have not adhered to basic regulatory guidelines.
Gensler's Future Prospects
Although Gensler's term does not end until June 2026, Donald Trump assured he plans to fire him immediately upon assuming office. However, experts believe that firing Gensler might not be straightforward due to legal reasons, and Gensler himself has shown no intention of resigning.
USA's Crypto Strategy
Sources indicate that Gensler might resign, but he could also remain at the SEC as a commissioner. Under pressure from the cryptocurrency community, Trump might need to fulfill election promises, including localizing Bitcoin operations and stopping the development of a government-backed digital currency.
The future of Gensler and his crypto regulatory efforts remains uncertain with a new administration approaching. However, his tenure has solidified his significant role in discussions about the future of crypto in the USA.
