Gary Gensler, chairman of the United States Securities and Exchange Commission (SEC) since April 2021, delivered a speech during the Practicing Law Institute’s 56th annual securities regulation conference, which many interpreted as a sign of his imminent departure from the agency.
In your interventionGensler called the SEC an “extraordinary agency” and He expressed his gratitude for having had the opportunity to serve there.
“It has been a great honor to serve with the team, doing people’s work and ensuring that our capital markets remain the best in the world,” Gensler stated, without directly mentioning a resignation, but the tone of his words suggested goodbye.
The speech not only served as a moment of personal reflection, but also addressed crucial topics such as his regulatory approach towards cryptocurrencies. Gensler reiterated his position that Bitcoin/” target=”_blank” rel=”noreferrer noopener”>bitcoin It is not considered a security. However, He highlighted his concern about other digital assets.
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Gary Gensler publishes a message that seems to point to his departure from the SEC.
“It has been an honor to work for the SEC” pic.twitter.com/GMGfxgdXG4
— CriptoNoticias (@CriptoNoticias) November 14, 2024
“Our focus has been on some of the approximately 10,000 other digital assets, many of which courts have ruled were offered or sold as securities and therefore fall under the SEC’s purview,” he said.
Gensler restated the need for anyone offering to sell securities to register, extending this obligation to intermediaries such as stockbrokers, exchanges and clearinghouses. He criticized the lack of supervision in the Cryptocurrency industry, noting that this has caused “significant harm to investors.” He added that “the vast majority of cryptoassets have not yet demonstrated sustainable use cases.”
Gensler’s speech not only reflected his vision for financial regulation, but also seemed to anticipate his departure. “I have been proud to serve with my SEC colleagues who, day after day, work to protect American families on the highways of finance,” he concluded.
Gensler’s departure from the SEC appears imminent, especially with the arrival of the Trump administration in January, who has promised to replace him due to his regulatory focus against the cryptocurrency sector.
During his tenure, Gensler has been the subject of criticism for his actions that have led companies to significant defensive expenses. As CriptoNoticias has reported, some bitcoin companies have incurred costs of up to 400 million dollars to defend against SEC regulatory actions under his leadership.
The cryptocurrency community and financial markets will be attentive to any official announcement regarding Gensler’s departure and who his successor could be, at a time when cryptocurrency regulation It is at a point of constant evolution.
This article was created using artificial intelligence and edited by a human Editor.
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