Is Gary Gensler preparing to give up the role of the SEC chairman?

Is Gary Gensler preparing to give up the role of the SEC chairman?

  • Gary Gensler's recent speech at the annual event of the Institute on Securities Regulation indicates that he may soon be released from the office.
  • This follows a pattern in which SEC chairman resign after a change in the administration.

In the Pli 56 Th Gary Gensler's speech at the annual Institute on Securitian Regulation program on November 14, it indicated that his term as a second chairman will soon come to an end. Speculations indicate that the new President Donald Trump could remove him.

Under the leadership of Gary Gensler, the SEC has introduced a regulatory enforcement model that comprises blurred regulations on cryptocurrencies and then enforcement measures against in default.

During his speech, Gensler referred to his job in the past of the past, since one of Trump's election promise to the crypto industry was to dismiss Gary Gensler "on the first day" of his term as president.

Gensler's records for crypto enforcement

The SEC from Gensler has some remarkable cases against various crypto companies, including Ripple, Coinbase, Uniswap and Consensys.

The agency's multi-year lawsuit against Ripple Labs ended with a partial loss, since a US judge decided that XRP was not a securities. However, this judgment only applies to the public sales of XRP, not to the institutional sales for which the company was fined with a fine of $ 125 million.

Despite the partial victory, the judgment was more considered a loss for the SEC, since it was a precedent for other cryptocurrencies in which similar public sales were non-value papers, a development that would revoke the regulation of the SEC by enforcing

On the other hand, the SEC from Gensler won some victories in the persecution of insolent crypto exchanges, since the authority won a procedure against Bittrex in August 2023. The stock exchange has been finished by a fine of $ 24 million due to violation of the US investment laws and has since hired its business in the USA due to regulatory uncertainties.

Gensler also pursued complaints against giants of the crypto industry such as Coinbase, Binance, Consenys and even decentralized platforms such as uniswap; Some of them are still running.

regulatory ambiguity under Gensler

obscure crypto regulations shaped Gensler's term. The regulation-through-enforcement regime of the SEC, which prevailed in 2023, but attacked until 2024, created an unsafe regulatory environment that left the stock exchanges about the rules for crypto nopers in the unclear.

exchanges such as Coinbase called for regulatory clarity and companies such as Consensys, the SEC sued the status of Ethereum as a security after the authority had delivered a wells to the blockchain infrastructure provider due to violation of securities laws.

In an interview with CNBC in 2022, Gensler revealed that he believed that most cryptocurrencies are securities and should be regulated as such. However, its authority failed to provide clear regulations for crypto companies and exchanges that they should follow. Instead, Gensler insisted that there has been clarity for years.

While Gensler confirmed that Bitcoin was not a security, the judgment was for several other large cryptos, with Ethereum being a point of contest in particular.

COINBASE leads an active lawsuit against the SEC and urges a judicial decision to obtain important cryptopolitical documents on the crypto regulations of the SEC and their knowledge from studies on Ethereum as securities.

The SEC delays the publication of the document, citing a three -year test period.

Meanwhile, Gary Gensler is faced with complaints from a coalition of 18 US states, which rely on gross attacks by the government in the regulation of digital assets.

Regardless of whether Gensler is approaching the end of his role as SEC chairman or not, it seems to agree that his approach to cryptor regulation leaves much to be desired. As a sec-commissioner Mark Uyeda

Source: Coinlist.me

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