Who is GaryGensler? He came to SECGov talking a good game on crypto regulation. Here's a look back at our profile of Gensler from MostInfluential2021:
“Absent clear investor protection obligations on these platforms, the investing public is left vulnerable. Unfortunately, this asset class has been rife with fraud, scams and abuse in certain applications,” GenslerA key note here is his repeated entreaties to Congress to act, rather than look to unilateral action by the agency itself.
“The statements regarding decentralized exchanges along the lines of ‘they list hundreds of tokens, some of which must be securities’ and similar phrasing in the actual SEC releases does nothing to provide useful guidance to the majority of the space that is trying to operate within the law,” he told CoinDesk.
To date, Gensler seems to be following in predecessor Jay Clayton’s footsteps through his attention on enforcement actions, she said.“The lawyers at the SEC are exhausted – and not just from Ripple,” she said.2022 is poised to be pivotal for crypto regulation in the U.S.
Gensler seemingly hinted at this in his recent comments at DACOM. He has said they think that agency is the right regulator for crypto exchanges, even when the bulk of their trading volume comes from commodities rather than securities . Gensler took this further, looking to non-crypto examples such as silver and gold trading on the New York Stock Exchange.
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