Gary Gensler

Gary Gensler is the Chairman of the US Securities and Exchange Commission (SEC). Gensler plays a key role in regulating the cryptocurrency market and is one of the most talked about figures in the world of cryptocurrencies and financial control.

The future SEC Chairman was born on October 18, 1957 in Baltimore, Maryland, USA. After high school, Gensler earned a bachelor’s degree in economics and an MBA from the Wharton School of Business at the University of Pennsylvania. He began his career at Goldman Sachs, where he became co-chairman of the finance department.

Prior to his appointment as SEC chairman, Gensler was a professor of global economics and management at the MIT Sloan School of Management, co-director of Fintech@CSAIL MIT, and senior advisor to the MIT Media Lab’s Digital Currency Initiative. From 2017 to 2019, he served as Chairman of the Maryland Consumer Financial Protection Commission.

With his appointment as SEC chairman in 2021, Gensler became responsible for regulating cryptocurrencies. He recognizes the potential of digital assets and blockchain technology, but also emphasizes the need to protect investors and ensure market integrity. His approach to cryptocurrency regulation focuses on creating a clear and comprehensive regulatory framework. As chairman of the SEC, Gensler has advocated for stricter regulation of this area.

Gensler has been criticized by the cryptocurrency community and industry. His determination to regulate cryptocurrencies has caused discontent among investors and companies. For example, he has stated that most ICOs (initial coin offerings) are illegal and many altcoins can be considered unregistered securities.

Under Gensler’s leadership, the SEC took action against major cryptocurrency exchanges such as Coinbase and Binance, which caused a significant outcry in the crypto community. This led to accusations of abuse of power and negatively affected the perception of the SEC.

According to Gensler, cryptocurrency markets suffer from a lack of regulatory enforcement, not a lack of regulatory clarity. His approach to cryptocurrencies is marked by a strategic calculation to expand his political influence. Gary Gensler has been actively working with members of the Senate and House of Representatives, strengthening his ties to key political figures.