According to Bloomberg, the SEC chairman reiterated at a legal conference in New York that the agency should focus on the "rules of the road" that apply to securities markets.
Gensler stressed that the lessons learned from the Great Depression show that securities disclosure is an important part of the public interest.
He noted that the next Republican administration might not share his view on the digital asset industry, which is characterized by a large amount of non-compliance and the need to follow traditional securities regulations.
The Heritage Foundation's Project 2025 promises to significantly reduce the size and power of the SEC. Trump has distanced himself from the project, but some of his allies support it.