Gary Gensler, Chairman of the US Securities and Exchange Commission (SEC), has had a fluctuating stance on cryptocurrency since taking office in 2021. In a recent interview, Gensler stated that the SEC will continue to regulate cryptocurrencies through “enforcement” and wished Bitcoin a happy 16th birthday.
Happy 16th birthday to Bitcoin, but regulatory stance remains unchanged
SEC’s future regulatory plans
No comment on the Trump administration’s dismissal and the WLF project
During the interview, SEC Chairman Gary Gensler first congratulated Bitcoin on its 16th birthday and praised its development since its introduction in 2008. However, Gensler subsequently stated that the SEC’s regulatory approach to cryptocurrency will not change and emphasized that it is aimed at protecting investors’ rights and promoting market development.
Gensler believes that blockchain technology (such as Bitcoin) and existing securities laws are not contradictory and can coexist. He stated that the issue lies not in the technology itself, but in whether the cryptocurrency market can achieve information transparency. In addition, Gensler mentioned that there are conflicts of interest in the cryptocurrency market, which means that some projects may engage in unfair practices that harm investors’ interests.
Gensler also mentioned that the SEC is undergoing multiple regulatory reforms, including core markets such as government bonds and stocks, and emphasized that the SEC’s goal is to reduce costs, improve market transparency, and enhance stability through market competition.
Gensler also mentioned that over 40 reform plans have been completed in the past three years, but there are still many rules under study and promotion in the future. As for concerns from the public about whether the SEC relies solely on “enforcement” to promote regulation, Gensler stated that the SEC has always regulated in accordance with legal judgments, but ultimately, clearer regulations need to be established by Congress to support their work.
During the interview, when asked about his views on the 2024 US presidential election, especially regarding Trump’s promise to dismiss Gensler if elected, Gensler refrained from commenting and did not express his views on Trump’s World Liberty Financial project.
(Gary Gensler is confirmed to be out? Insiders reveal that He Jinli is considering two candidates to replace the SEC Chairman)
Gary Gensler
SEC Chairman
WLF
Trump
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