SEC Chairmans Confession Happy 16th Birthday Bitcoin No Comment on Trumps Termination and WLF

Chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has been inconsistent in his stance on cryptocurrencies since taking office in 2021. In a recent interview, Gensler stated that the SEC will continue to regulate cryptocurrencies through enforcement and congratulated Bitcoin on its 16th birthday.

Happy 16th Birthday, Bitcoin, but Regulatory Stance Remains Unchanged

During the interview, SEC Chairman Gary Gensler first congratulated Bitcoin on its 16th birthday and then praised its development since its inception in 2008. However, Gensler later stated that the SEC’s regulatory approach to cryptocurrencies will not change and emphasized that it is aimed at protecting investor rights and promoting market development.

Gensler believes that blockchain technology, such as Bitcoin, does not conflict with existing securities laws and can coexist. He stated that the issue lies not in the technology itself, but in whether the cryptocurrency market can achieve information transparency, which is crucial. In addition, Gensler mentioned the existence of conflicts of interest in the cryptocurrency market, which means that some projects may engage in unfair practices that harm investors’ interests.

Gensler also mentioned that the SEC is undergoing various regulatory reforms, including core markets such as government bonds and stocks, and emphasized that the SEC’s goal is to reduce costs, increase market transparency, and stability through market competition.

Gensler also mentioned that over 40 reform plans have been completed in the past three years, but there are still many rules being studied and promoted in the future. As for concerns from the public about whether the SEC relies solely on enforcement to promote regulation, Gensler stated that the SEC has always conducted regulation based on legal judgments but ultimately needs clearer regulations established by Congress to assist their work.

During the interview, Gensler was asked about his views on the 2024 U.S. presidential election, particularly regarding Trump’s promise to dismiss Gensler on his first day in office if elected president. Gensler did not comment on this matter and did not express any opinions on Trump’s World Liberty Financial project.