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Jessy, Bitchain Vision Realm
According to a statement issued by the US Securities and Exchange Commission, Gary Gensler, who was originally ended in June 2026, will leave early on January 20, 2025.
The day of his departure is the day when Trump takes office.Trump has promised that if he is elected, he will fired Gary Gensler, who is “encrypted unfriendly”.
During his tenure chairman, SEC once again tightened his attitude towards the encryption industry and initiated a series of high -profile lawsuits to crypto companies.Law enforcement operations to promote compliance.However, on the other hand, during his tenure, both Bitcoin and Ethereum spot ETF also passed.
Bitchain’s vision and governance concept found that during the SEC, the traditional financial elite was unhappy to see the barbaric development of the encryption industry, but he was happy to be encrypted into a part of traditional finance.
Self -claiming to be neutral to the blockchain
The earliest relationship between Gensler and the encryption industry should start in 2018. At that time, Gensler taught in Massachusetts in teachings and had a blockchain -related course. This course studied the technical problems of the blockchain and explored this.Gate technology will have potential impacts on the law and what investors will have.His lesson feels that he is neutral and curious about the blockchain.
Later, after he became the chairman of the SEC, some people also looked forward to having more forward -looking thinking on the issue of virtual currency.
However, after Gensler’s chairman of the SEC, his attitude changed.
In 2022, the encryption industry fell into a trough, and a series of projects such as LUNA and FTX collapsed.The SEC also opened its major prosecution for the encryption industry. The scope of the prosecution also affected the company to individuals. For example, it filed a lawsuit with celebrities such as Kardashian.It is a fee endorsement.What is wider is the SEC’s litigation of several secret currency exchanges, such as Binance and Coinbase, and other lawsuits of some encrypted projects, such as Luna’s mother -in -law, RIPPLE and BLOCKFI.And involving stable currency and pledge service. During Gary Gensler’s job, SEC showed an attitude towards stable currency and Staking services: Stable coins may belong to securities.Kraken was given a fine of $ 30 million.
The advancement of a series of litigation cases in the encryption industry is actually the clarity of the SEC regulatory intention.According to the Wealth Magazine, every time Gensler attended the Congress hearing, he turned over and out of the question of virtual currency- “come to record”.
He also directly pointed out that cryptocurrencies were “full of fraud, scams, bankruptcy and money laundering.”
Under so strong supervision of Gensler, it was surprising that in 2024, SEC approved the spot ETF of Bitcoin and Ethereum, which undoubtedly injected a strong heart to the development of encrypted development.
The above -mentioned seemingly contradictory behavior is actually under a logic, that is, the crypto crystallization is incorporated into the regulatory of the United States.
The attitude and actions of Gensler’s attitude and actions of the encryption industry are basically in line with the Bayeng government’s administrative concept. Strengthening supervision itself is one of the main strategies of the Bayeng government.
The strong traditional financial elite of the wrist
In addition to the encryption industry, other policies have roughly in the following aspects during the SEC period: promoted the reform of the financial market structure, proposed to restrict high -frequency trading behaviors such as payment order flow to improve market fairness; advocate strengthening the company’s environment, society andDiscovery requirements for governance (ESG) to improve market transparency: increase the strikes of market manipulation, insider trading and other behaviors.
Faced with the development of emerging technologies, he showed the long -term desire to protect. This is also the case in the AI industry. It pays attention to the impact of financial companies’ artificial intelligence and algorithm on customer behavior, and study how to regulate this technology.To protect consumers.
The above policies can be briefly summarized to strengthen the supervision of the financial market and protect the interests of investors, especially in responding to emerging technologies and in some emergencies.
In these new policies above, the policy of responding to climate change is one of Gensler’s highest -profile new policy. This is consistent with the efforts of the Biden government to respond to climate change, but it has triggered strong opposition in the industry.Requires harsh and suspected of violations.
For iron -fist supervision in the encrypted industry, and in order to cope with climate change, the requirements of the strict energy conservation and emission reduction of the industry have been opposed by the relevant interests.
The next President Trump stated in the campaign that he would choose to be an encrypted friendly SEC chairman, and he would also increase the restrictions on fossil fuel and relax the permits of drilling on the federal land to increase the country.Petroleum and natural gas production.
It can be seen from the above that some of Gensler’s policies will be abolished after Trump’s administration.
For the encryption industry, under its appointment, it basically laid the supervision of the United States for the encryption industry. Their policy is based on the original intention of protecting investors and maintaining market stability. In the context of the rapid development of the encryption market and the accumulation of risks, these policies”A necessity and urgency”
However, his regulatory method is biased towards law enforcement without the formulation of laws, and only punish the company, which causes the industry to be uncertain about the direction of supervision.Uncertainty is not conducive to the development of an industry. For enterprises, without clear rules, companies do not know what to do and not to do, which seriously binds the development of enterprises.Under such policy policies, some encrypted companies have migrated from the United States to places with more complete and clear encryption regulations, such as Singapore, Dubai and other places.
One of the details that can confirm this is that SEC filed a lawsuit against Coinbase’s unregistered securities case, and another case was also carried out at the same time. Coinbase filed a lawsuit formulated by the SEC.At that time, when Coinbase asked the SEC to draft comprehensive rules for the cryptocurrency industry, SEC rejected its request.Coinbase subsequently filed a legal lawsuit, saying that SEC’s rejection was “arbitrary and repeated impermanence”
In Gensler’s personality, there is a very good side. Perhaps it is this character -based base that creates its extremely strong supervisory wrist.During his time as President of Obama, he served as the head of the Commodity Futures Trading Commission (CFTC). It was evaluated by colleagues. At that time, Gensler showed great ambitions and the characteristics of rushing to promote various policies.Earlier, he worked at Goldman Sachs and when he was thirty years old, he became one of the youngest bankers in Goldman Sachs.After leaving Goldman Sachs, Gensler stepped into politics and served as assistant minister of the US Treasury Ministry of Finance and deputy minister of the Ministry of Finance.
It is not difficult to find out Gensler’s resume and policy concept. It is not difficult to find that it has made some policy actions under the measures that meet the national interests. He has been curious, doubtful, and disdainful about the traditional financial elite.It is not possible to develop the development of the times.
During his tenure, the encryption was mainly based on strict law enforcement actions, and he did not take the initiative to promote legislation to make his compliant development, showing his conservative.The passing of Bitcoin and Ethereum spot ETF, but the water has been burned to 98 degrees, and he pushes the boat down.The deeper reason may be that he, who represents the interests of traditional financial elites, does not like unpopular encryption, but is happy to see encryption into a part of traditional finance.
