Gary Gensler Will Withdraw From The SEC On January 20, Positive For Crypto!
JAKARTA - The chairman of the US Securities and Exchange Commission (SEC), Gary Gensler, is preparing to end his term of office on January 20, 2025. In an exclusive interview with Bloomberg Television, Gensler defended the SEC's track record under his leadership, particularly in law enforcement in the crypto sector. Amid sharp criticism, he stressed that his actions aimed at protecting retail investors and creating a more transparent market.
During Gensler's tenure, the SEC has filed 100 crypto-related law enforcement measures, far beyond 80 cases filed by its predecessor, Jay Clayton, during the initial coin offering (ICO) boom in 2017-2018.
Gensler describes the crypto industry as "full of bad actors" and is driven more by sentiment than market fundamentals. He also emphasized his view that most crypto assets are categorized as securities, so platforms and market intermediaries must comply with applicable securities laws.
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However, the new era may begin soon. US President-elect Donald Trump has appointed former SEC commissioner Paul Atkins to replace Gensler. Atkins is known to have a more digital asset-friendly view. Many in the crypto industry hopes Atkins will ease regulatory pressure, opening up growth opportunities for blockchain-based projects.
Under Gensler's leadership, the SEC experienced victories and defeats in court, including in cases against major platforms such as Coinbase and Ripple. In his statement, Gensler acknowledged that there was still much work to be done to protect investors and strengthen the fundamental market structure. He also warned that many crypto projects might not survive without better transparency.
This leadership change is expected to have a major impact on the global crypto industry. With Atkins' softer approach, industry players hope that clearer and more friendly regulations will provide space for innovation to develop. This is a major concern for investors who continue to monitor the development of policies under the new government.