Gary Gensler, the outgoing head of the U.S. Securities and Exchange Commission (SEC), believes the crypto industry still needs stricter oversight. In a Bloomberg TV interview, Gensler emphasized that regular investors aren’t getting enough information from digital asset companies.
During his time at the SEC, Gensler took strong actions against crypto companies, including Coinbase and DRW Holdings. He also went after market middlemen who didn’t follow securities laws, especially regarding registration and transparency.
According to Bloomberg, Gensler, who used to work at Goldman Sachs, will leave his role on January 20, when Donald Trump returns as president. Trump’s pick for SEC chair, Paul Atkins, is expected to take a more relaxed approach to crypto regulation.
Reflecting on his time at the SEC, Gensler noted that the agency handled about 100 crypto-related cases, more than the 80 under his predecessor, Jay Clayton. While Clayton focused on token creators, Gensler targeted intermediaries.
Despite some legal wins, the SEC has faced challenges in enforcing its view that many crypto projects break securities laws. Gensler is skeptical about the industry’s future, saying, “I’ve never seen a field so driven by emotions rather than solid basics.”
As the SEC transitions to new leadership, the future of crypto regulation remains unclear. Gensler’s tenure highlights the ongoing debate over how to regulate the fast-changing digital economy.
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