SEC Chairman: Shift Focus to AI, "Cryptocurrency Can Be Discussed Later"

ChainCatcher news, according to Bloomberg, U.S. SEC Chairman Gary Gensler is downplaying his focus on cryptocurrencies and shifting his attention to artificial intelligence. Gensler claims that he has been continuously monitoring the cryptocurrency industry, which is "fraught with fraud and scams," but now he is focusing on artificial intelligence (AI), which he believes is "the most transformative technology of this generation." As AI begins to automate many manual processes in the financial industry, Gensler warns that if left unchecked, it could pose dangers.

Decrypt's perspective suggests that Gensler's move does not indicate a relaxation of the U.S. SEC's control over cryptocurrencies. With several lawsuits involving major cryptocurrency companies like Ripple, Binance, and Coinbase still unresolved, this means that under Gensler's leadership, the SEC will continue to be committed to enforcing actions against cryptocurrency companies.