Gensler’s Perspective on SEC Role
Gary Gensler, the chairman of the Securities and Exchange Commission (SEC), recently delivered a speech in which he emphasized that the SEC’s role is not to persecute honest businesses or assume guilt before an investigation.
Gensler Quotes from the Past
In his speech, Gensler referenced past SEC chairmen, particularly Joseph P. Kennedy, comparing his views to those of Kennedy. He quoted Kennedy’s stance against fraudulent securities activity, hinting at a subtle jab at certain crypto companies, and emphasizing the importance of fair investigation and partnership with honest businesses.
Gensler’s Tenure
While Gensler may have intended to portray himself as aligned with past SEC ideologies, his tenure at the SEC has drawn criticism. Court rulings on the Ripple and Grayscale cases indicate that his enforcement tactics require more finesse, particularly as his actions have primarily targeted legitimate and compliant crypto businesses.
Hester Peirce, an SEC commissioner, has openly dissented against some SEC crypto enforcements, highlighting the challenges that crypto companies face when dealing with the SEC under Gensler’s leadership.
Hot Take
In conclusion, Gensler’s speech may seek to position the SEC favorably, but his handling of crypto cases and the response from other SEC members raise concerns about the regulatory landscape under his guidance.
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