Gary Gensler’s Crypto Journey
• Gary Gensler is the current Chairman of the SEC, who was previously a professor at MIT teaching ‘Blockchain and Money’.
• His stance on crypto assets has shifted drastically since his earlier days as he now declares every crypto asset, except bitcoin (BTC), a security.
• Rumors abound about Gensler’s motives, but his previous positions have given him a deep understanding of the crypto world.
Early Career: CFTC
Gary Gensler was previously the Chairman of the Commodity Futures Trading Commission (CFTC) from 2009 to 2014. During his tenure at CFTC, he was known for his proactive approach to regulatory oversight – a trait that he seems to have carried into his role at the SEC.
After leaving CFTC, he joined MIT where he taught courses on blockchain technology and cryptocurrencies and authored research on their public policy implications. His experience here allowed him to develop a deep understanding of the crypto world which stands in stark contrast to his current stance as regulator.
Gensler now declares every crypto asset, except bitcoin (BTC), a security – an about-face that has left everyone including Coinbase CEO Brian Armstrong exclaiming “Wow!” This pivot in stance hints towards an apparent change in narrative from being seemingly pro-crypto to one of strict regulation.
Rumors Around Gensler
Rumors abound about Gensler’s motives and why this shift has occurred; however, only time will tell if these rumors are true or not. What we do know is that Gary Gensler has traversed from being an educator and observer of cryptocurrencies to becoming their primary antagonist in just over four years – leaving us all wondering what comes next in this summer blockbuster saga!