On Jan. 14, 2025, Gary Gensler had a farewell interview on CNBC. On January 20, he will step down as the chairman of the SEC. What were their conclusive words to the crypto community? 

At the very start of the interview, the host, Andrew Ross Sorkin, makes a remark that sets the context. He notes that even in the last few days of Gensler’s tenure as the SEC chair and launch of the Trump administration 2.0, Robinhood brokers had to settle $45 million SEC charges associated with violations of ten law provisions. 

At that time, Sorkin didn’t know that after the interview, the SEC would rekindle the case against Ripple.

Sorkin’s smart tone-setting remark paints Gensler as a soldier relentlessly fighting to protect the prehistoric laws from the burgeoning cryptocurrency sector. Let’s see what Gary told the CNBC hosts over various topics during an exit interview.

Trump 2.0 as pro-crypto administration

Admitting that donors from the crypto field were prominent in sponsoring Trump’s campaign, Gensler noted that the election was not about cryptocurrencies.

He mentioned that his predecessor, Jay Clayton, who will serve in the new Trump administration, brought up 80 cases during his past tenure. It seems that Gensler is hinting that the new administration is not going to tolerate lawbreakers, no matter how pro-crypto it is. 

Gensler’s epitome: cryptos are securities. Period

Sorkin pointed out that Gensler, during his tenure, has been battling crypto companies, leaning on the existing laws while not working on creating the laws that would have factored the changing reality in.

This question is really genuine as Gensler is known as a person who tends to equate most cryptocurrencies to unregistered securities, which is a very uncomfortable way to perceive crypto for crypto companies. 

Instead of pushing the new rules to efficiently regulate crypto, Gensler was trying to shove crypto into an already existing law con

Go to Source to See Full Article
Author: Alexey Borovets