Is SEC Chairman Gary Gensler Waging a War Against Crypto?

Asher Tame
Asher Tame Economy Business Crypto
3 Min Read

The rush for regulation of the crypto business is now openly underway . It is a known fact that many countries and regulators changed their approaches from time to time . However Gary Gensler is one of the few well-known figures who has never revised his mind on cryptocurrency . But since when?

is sec chairman gary gensler waging a war against crypto

Gary Gensler Himself Was a Anti-Regulation In the Past

Gary Gensler has been in the finance industry for many years and is most known for his role as chairman of the CTFC during the 2008 financial crisis . His primary accomplishments include making OTC derivatives markets more closely regulated . He was instrumental in setting the stage for the deregulation prior to 2008 most notably the demise of Lehman Brothers . The Oak file reminds us that Gary Gensler once said that the global financial crisis had irrevocably changed his outlook on government oversight .

Another unexpected truth is that in 2018 Gary Gensler spoke on blockchain technology and cryptocurrency at the MIT . He has lately shifted his tone from one of gushing appreciation for Algorand’s technology (ALGO) to calling for a more stringent regulatory framework for the issuing of what he considers to be a security .

Hester Peirce: A New Hope for the Crypto Industry

It is already common knowledge that the United States takes a strong stance against cryptocurrencies, as proven by the recent penalties handed out to cryptocurrency exchanges like Coinbase, Kraken and Bittrex . But from the SEC side there is a ray of hope in the form of Hester Peirce .

According to her dossier at Oak Invest, she has “ardently defended cryptocurrencies, spoken out and put innovation in the sector at the center of her speech” during around forty interventions since 2018 . In 2018, the Winklevoss brothers presented an ETF based on Bitcoin (BTC) and this woman earned the moniker “Crypto Mom” for her staunch support of this idea . Since then she’s been advocating for stricter regulations, the reverse of what Gary Gensler probably wants to achieve .

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Asher Tame
By Asher Tame Editor-in-chief
Hi there! My name is Asher, and I'm a Finance Editor based in Canada. I'm passionate about all things finance and have spent years honing my skills in the industry. I graduated from the Master of Finance program at the University of Toronto, which provided me with a strong foundation in financial theory and practice. Since then, I've worked in a variety of finance-related roles, including as a financial analyst and a financial advisor. These experiences have given me a deep understanding of the industry and a keen eye for detail. As a Finance Editor, I'm responsible for overseeing the financial content produced by my team of writers. I work closely with them to ensure that our articles are accurate, insightful, and relevant to our readers. I'm committed to providing our readers with the information they need to make informed decisions about their finances.
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