The former chairman of the American Securities and Exchange Commission (SEC), Gary Gensler, has again made itself heard. Even after his term of office, he remains critical of the crypto sector. In an interview last week with the American news channel CNBC, he emphasized for the umpteenth time that the majority of the crypto tokens is speculative and has no solid foundation.
Years of fight against Crypto
From 2021 to 2025, Gensler was at the head of the securities watchdog and had a very bright reign against the cryptomarkt during that period. His policy was often described as “regulation through enforcement”. This meant, among other things, lawsuits against large stock markets such as Binance and Coinbase, classifying countless tokens such as effects, and limiting the access of crypto companies to the traditional banking system.
That line was referred to by critics as Operation ChokePoint 2.0. Genler wanted to subject the sector to existing and distinguished securities legislation, without taking into account the technological differences of digital assets. Genler made this approach a true nightmare for the crypto sector. In the interview he explained his approach at the time:
“We tried to protect investors consistently. And in the meantime we had to deal with many fraudsters, look at Sam Bankman-Fried. He was not the only one.”
New course under Atkins
Since December, Paul Atkins, appointed by President Donald Trump, is at the helm of the sec. Atkins chooses a very different approach and wants to give the sector the space to develop. He is known for his light test and in the past already advised companies that are active in the crypto sector. A clear contrast with the left Genler.
Under Atkin’s leadership, the SEC no longer labels tokens by definition as effects and a streamlined process has been introduced for the launch of crypto-etf’s. These are now approved within 75 days if they meet pre -determined criteria. Since his appointment, several new cryptWetten have also been introduced. In July, the Genius Act, a federal Stablecoin law, was adopted.
Despite the strong developments of the crypto industry, Gensler remains skeptical. According to him, Crypto is a “highest speculative and very risky possession” that is mainly driven by hype. “In addition to Bitcoin (BTC), most of these tokens lack foundations,” said the former chairman.
Source: https://newsbit.nl/ex-sec-baas-blijft-keihard-behalve-bitcoin-mist-crypto-fundamenten/
