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It is rumored that Harris will consider appointing Gary Gensler as Secretary of the Treasury after being elected. Who exactly is this Gary Gensler?
When it comes to the "public enemy" of the crypto world, many people's first reaction will be the U.S. Securities and Exchange Commission (SEC). Every time some projects or celebrities are targeted by the SEC, it will lead to a round of market declines. SEC Chairman Gary Gensler is even more "notorious".
Since he became the chairman of the SEC in April 2021, Gary Gensler has served more than half of his term. During his tenure, he frequently "fired" at the crypto industry, making regulatory remarks such as "the vast majority of tokens in the crypto market are securities, so the issuance and sale of these security-type crypto tokens will be regulated by securities laws." He also led cases against many well-known crypto companies such as Binance, Coinbase, Kraken and FTX.
Is this perspective really correct? In my opinion, this kind of view is biased. Looking at the 15-year history of the entire crypto industry, the role of previous SECs in promoting the crypto industry is not as good as Gensler's three years in office. Let's count down the major events that have had a positive impact on the crypto industry from April 2021 to today:
· In October 2021, the first ETF was listed.
· In January 2024, the first Bitcoin spot ETF was listed.
· In May 2024, the 19 b-4 document for the Ethereum spot ETF was approved. The above three major events are of extraordinary significance to the crypto industry.
In general, Gensler may have camps, selfishness, external pressure and even interests, but I prefer to believe that he is using his own way to make the crypto world integrate into the mainstream world as soon as possible.
When it comes to the "public enemy" of the crypto world, many people's first reaction will be the U.S. Securities and Exchange Commission (SEC). Every time some projects or celebrities are targeted by the SEC, it will lead to a round of market declines. SEC Chairman Gary Gensler is even more "notorious".
Since he became the chairman of the SEC in April 2021, Gary Gensler has served more than half of his term. During his tenure, he frequently "fired" at the crypto industry, making regulatory remarks such as "the vast majority of tokens in the crypto market are securities, so the issuance and sale of these security-type crypto tokens will be regulated by securities laws." He also led cases against many well-known crypto companies such as Binance, Coinbase, Kraken and FTX.
Is this perspective really correct? In my opinion, this kind of view is biased. Looking at the 15-year history of the entire crypto industry, the role of previous SECs in promoting the crypto industry is not as good as Gensler's three years in office. Let's count down the major events that have had a positive impact on the crypto industry from April 2021 to today:
· In October 2021, the first ETF was listed.
· In January 2024, the first Bitcoin spot ETF was listed.
· In May 2024, the 19 b-4 document for the Ethereum spot ETF was approved. The above three major events are of extraordinary significance to the crypto industry.
In general, Gensler may have camps, selfishness, external pressure and even interests, but I prefer to believe that he is using his own way to make the crypto world integrate into the mainstream world as soon as possible.
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