- Chair Gary Gensler has paid tribute to Bitcoin.
- The SEC Chair is not backing down from his strict approach to crypto regulation.
- The commission will prioritize industry oversight in the coming year.
The United States Securities and Exchange Commission (SEC), under the leadership of current chair Gary Gensler, has been at odds with the crypto industry, largely due to its stringent approach to regulation. Gensler has repeatedly faced criticism for the commission’s aggressive enforcement actions targeting both major and minor entities, with many arguing that these actions are unfair and hinder industry growth.
Despite the backlash, the regulatory watchdog has once again reaffirmed its strict stance on the asset class, but this time with an interesting acknowledgment.
“Happy Sweet 16:” Gary Gensler’s Bitcoin Birthday Card
SEC Chair Gary Gensler has doubled down the commission’s stance on crypto industry regulation in a recent Bloomberg interview, but not without first offering an intriguing birthday wish for the upcoming Bitcoin whitepaper anniversary.
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“This Halloween it will be 16 years since Satoshi Nakamoto wrote that whitepaper, so happy sweet sixteen in a week,” stated the SEC Chair.
However, Gensler’s ‘warm’ wish came with no strings attached. The regulatory chief quickly reaffirmed his commitment to enforcing oversight of the crypto industry, insisting that the asset class must comply with securities laws.
“We’ve seen a lot of challenges in this field,” Gensler said, emphasizing that the commission’s actions aim to ensure disclosure and protect retail investors from potential risks from a lack of regulation.
When asked about his comments on presidential election hopeful Donald Trump’s vow to bring an end to his regulatory era by firing him, the SEC chair declined to comment.
Gensler’s remarks follow the agency’s decision to prioritize crypto regulation for the coming year.
Crypto Lands on SEC 2025 Priority List
Despite growing criticism, the SEC is pushing for increased oversight and regulation of digital assets. Recently revealed documents outline its plans to enhance scrutiny of cryptocurrencies and related investments in 2025 and oversee firms offering digital asset-related services.
“Given the volatility and activity involving the crypto asset markets, the Division will continue to monitor and, when appropriate, conduct examinations of registrants offering crypto asset-related services,” the document read.
As part of the scheme, the commission will also assess and ensure that service providers meet and follow the code of conduct to offer crypto assets to ensure compliance.
The SEC is currently in disputes with major industry players like Ripple and Coinbase, many of whom have criticized the commission for overstepping its authority.
On the Flipside
- Bitcoin’s white paper was released on October 31, 2008.
- Gary Gensler’s term as SEC chair will expire in June 2026, but if there is a change in U.S. leadership after the upcoming elections, he could be replaced sooner than expected.
- Crypto exchange Crypto.com recently filed a lawsuit against the SEC in response to the commission’s Wells notice.
Why This Matters
Despite Gensler’s acknowledgment of Bitcoin’s growth, his statements reveal no intention of easing regulatory actions shortly. The unwavering stance raises concerns over the crypto industry’s future under his governance at the SEC, underscoring the need for a better approach that ensures necessary oversight while leaving room for growth.
Find out more about the opposition to Gary Gensler and the SEC’s crypto approach here:
“Fire Gary Gensler!” Lawmakers Endorse Act to Oust SEC Chair
Election hopeful Donald Trump is leading on prediction platform Polymarket; discover why here:
Trump Dominates Crypto Election Bets: Here’s Why
