Gary Gensler, the chair of the U.S. Securities and Exchange Commission, spoke about a potential resignation and the importance of crypto regulation.
Retrospective of Gensler's Achievements
Gary Gensler noted that his tenure at the SEC began in 2021 when cryptocurrency cases accounted for about 5-7% of all enforcement actions. Under his leadership, the first Bitcoin futures ETF was approved in 2021. He also emphasized that both he and his predecessor, Jay Clayton, consider Bitcoin not to be a security.
Current Situation and Future Views
Rumors about Gensler's resignation have intensified following Donald Trump's victory in the U.S. presidential election and his promise to remove the SEC Chair. Markus Thielen, founder of 10X Research, predicts Gensler might step down in the first two months of 2025.
Market Resonance and Reactions
Paul Grewal, Chief Legal Officer at Coinbase, has urged the SEC to adopt a more constructive stance toward crypto regulation and emphasized the need for a regulatory framework that fosters innovation. This statement comes amid rumors of Gensler’s resignation and new political changes in the U.S.
Gary Gensler continues to stress the need for strict crypto regulation despite rumors of resignation. His statements prompt extensive discussions in the crypto community.
