gensler

According to Fox Business, Ripple CEO Brad Garlinghouse stated in an interview with "Mornings with Maria" that the division among U.S. regulators on crypto policy and enforcement-style regulation has created uncertainty for the industry's development. He mentioned that the SEC and CFTC are pushing for a new regulatory framework, and legislation like the CLARITY Act being discussed in Congress is expected to establish clearer rules for crypto assets.Garlinghouse warned that a regulatory environment similar to that of former SEC Chairman Gary Gensler should not occur again, and emphasized that despite the current market volatility, Ripple's business continues to grow, calling for clear and predictable regulation to replace politicized and selective enforcement.

Alex Thorn, the research director at Galaxy Research, posted on the X social platform pointing out that the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) released a milestone digital asset classification guideline this Tuesday, officially categorizing digital assets into five types: digital commodities, digital collectibles, digital tools, stablecoins, and digital securities (tokenized securities), clearly stating that only the last category constitutes securities, which must be registered or exempted under federal securities law.This guideline, published as a committee-level interpretive rule in the Federal Register, explicitly replaces the "investment contract" analysis framework used since the Gensler era in 2019 and provides two clear paths for tokens to detach from securities characteristics: first, if the issuer fulfills its promised core management tasks, the investment contract is terminated, and the token can be freely traded as a non-security in the secondary market; second, if the issuer abandons the project or remains silent for a long time, the investment contract also terminates. Additionally, the guideline clarifies that airdrops, mining, and staking generally do not constitute securities transactions, and the packaging or unpackaging of assets does not change their securities characteristics.Alex Thorn believes that this guideline officially marks the end of the Gensler era's hostile regulatory stance towards the crypto industry, providing important clarity support for further institutional entry. However, he also cautions that interpretive rules are not legally binding and can be overturned by a new administration at any time, which is also the core reason for the industry's ongoing push for the CLARITY Act legislation.

The X platform account of FTX founder Sam Bankman-Fried (SBF) has recently been posting continuously, stating that former President Trump is correct on cryptocurrency issues, while Biden has messed up cryptocurrency. It is reported that this series of posts was made a few days after the release of former Alameda Research CEO Caroline Ellison.In addition, SBF praised Trump's initiatives on issues outside of cryptocurrency, while claiming, "All the world leaders I have met are fed up with Biden; he chose Gary Gensler as the chairman of the SEC." According to data from the cryptocurrency prediction platform Polymarket, traders currently believe there is a 17% chance that Trump will pardon SBF before 2027.

ChainCatcher news, according to Cointelegraph, former SEC Chairman Gary Gensler admitted in an interview on Wednesday that he does not regret the way cryptocurrency enforcement was handled during his tenure at the agency.Gensler expressed that he is "proud" of the correct decisions made regarding the regulation of digital assets during his time at the SEC, and reiterated the view that cryptocurrency is a "highly speculative, extremely risky asset." When discussing enforcement actions against cryptocurrency companies, Gensler stated, "We have been working hard to ensure investor protection. However, during this time, we have also encountered many fraudsters: look at Sam Bankman-Fried, he is not the only one."

ChainCatcher news, according to THE BLOCK, Coinbase cites a report from the Inspector General stating that the U.S. Securities and Exchange Commission (SEC) deleted a year's worth of text messages from Chairman Gary Gensler. Coinbase's Chief Legal Officer Paul Grewal stated that the company has requested a federal court to "address this serious breach of public trust."

ChainCatcher news, according to The Block, the U.S. Securities and Exchange Commission officially withdrew several proposed rules on Thursday that would impose stricter regulations on DeFi and cryptocurrency custody.These proposals were made under the leadership of former Chairman Gary Gensler, who led the agency's "enforcement-oriented approach." The withdrawn proposals included a proposed amendment to Rule 3b-16 of the Exchange Act published in April 2023. This proposal aimed to broaden the definition of exchanges, specifically to include decentralized finance platforms under the regulation of national securities exchanges. The proposal faced criticism from various industry stakeholders.

ChainCatcher news, according to FinanceFeeds, former House Financial Services Committee Chairman Patrick McHenry stated that former SEC Chairman Gary Gensler has a much more moderate attitude towards digital assets in private than in public.Patrick McHenry mentioned in the "American Cryptocurrency" podcast that in private discussions, Gensler expressed appreciation for the potential of blockchain and digital assets—this stands in stark contrast to his aggressive regulatory stance during his leadership at the SEC. McHenry recalled that Gensler often referenced his time at MIT, where he taught courses on blockchain and digital currencies, noting that he recognized the value of digital assets and understood blockchain technology.Others who worked with Gensler during his academic career also confirmed this perspective. Sei Labs General Counsel Gerald Gallagher pointed out that Gensler contributed to the early conceptualization of token airdrops—a detail that is rarely mentioned in his public biography.

ChainCatcher news, according to crypto journalist Eleanor Terrett, former North Carolina Congressman and Chairman of the House Financial Services Committee Patrick McHenry (McCarthy) revealed that former SEC Chairman Gary Gensler has not been as anti-cryptocurrency in private as he has been in public. "I think this has more to do with Senate politics and the confirmation process."

ChainCatcher news, according to Decrypt, Miami-based crypto company Unicoin has been asked by the SEC to reach a settlement by April 18 for allegedly violating securities registration and anti-fraud regulations, but the company's CEO Alex Konanykhin refused to compromise, stating that he will respond through the courts.The SEC accused it of distributing the token UNIC through an airdrop, misleadingly claiming that it "has asset backing" and "complies with SEC regulations," and allegedly reselling restricted securities without exemption. Konanykhin called the accusations "a push from personnel left over from the Gensler era" and plans to countersue the SEC for causing billions of dollars in losses.

ChainCatcher news, according to Fox Business reporter Eleanor Terrett, Coinbase is trying to determine the specific amount of spending by the U.S. Securities and Exchange Commission (SEC) on non-fraud investigations and enforcement actions against the crypto industry under former chairman Gary Gensler.Coinbase submitted a Freedom of Information Act (FOIA) request this morning for all investigation and litigation information related to the issuance and sale of digital assets, secondary market trading, staking, and lending from April 17, 2021, to January 20, 2025. The request also includes the number and names of investigations and enforcement actions during this period, as well as the work hours and compensation information of SEC employees and contractors, and requests the disclosure of budget and compensation details for the SEC's crypto assets and cyber division.Coinbase Chief Legal Officer Paul Grewal stated that this move is aimed at providing transparency to American taxpayers, and he hopes the new SEC leadership can continue to turn a new page in accountability. As of the time of publication, the SEC has not responded to the request for comment.

ChainCatcher news, according to Bloomberg, former investigative journalist Jason Leopold has released a series of internal documents obtained from the U.S. Securities and Exchange Commission (SEC) through the Freedom of Information Act (FOIA) over the past six months. This batch of documents includes:Email correspondence records of SEC Chairman Gary Gensler;Several confidential letters sent by Tesla's legal team regarding the SEC's ongoing enforcement actions against Elon Musk;An investigation report on the hacking incident of the SEC's official X account;Relevant investigation documents regarding deepfake images appearing on the X platform and their impact on the market;Multiple reports from the Inspector General;Leopold stated that obtaining these documents involved a lengthy process, including regularly following up on the application status, negotiating with the agency, and narrowing the scope of the request, with some content still redacted. These documents will provide the public with important reference information about the internal workings of the SEC.

ChainCatcher news, cryptocurrency exchange Gemini co-founder Tyler Winklevoss announced on the X platform that as long as the Massachusetts Institute of Technology (MIT) is associated with Gary Gensler, the exchange will not hire any graduates from the school, and Gemini's summer internship program will also not hire interns from MIT.

ChainCatcher news, FOX Business reporter Eleanor Terrett posted on X: "Former U.S. SEC Chairman Gary Gensler has returned to MIT as a practice professor in the Global Economics and Management Group and the Finance Group.According to the university, he will teach and research artificial intelligence, finance, fintech, and public policy."

ChainCatcher News, SEC Chairman Gary Gensler has officially resigned.According to new appointment documents released by the White House, Mark Uyeda has been appointed as the acting chairman of the SEC.It is reported that Uyeda is a Republican and has served as an SEC commissioner since June 30, 2022. Before becoming an SEC commissioner, Uyeda worked at the SEC for over 15 years. FOX Business previously reported that Mark Uyeda aims to assist Trump in fulfilling the promise to end the Biden administration's so-called "crypto war."

ChainCatcher News, the U.S. SEC stated in a statement that today is Gary Gensler's last day serving at the U.S. Securities and Exchange Commission. Chairman Gensler has a long history of public service and joined the SEC in 2021.Previously, he served as the Chairman of the Commodity Futures Trading Commission, Deputy Secretary of the Treasury responsible for domestic finance, Assistant Secretary of the Treasury for Financial Markets, and Senior Advisor to U.S. Senator Paul Sarbanes. He brought his extensive experience and knowledge in financial markets to the chairmanship, and we worked together to advance the Commission's mission to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.Although as commissioners we approached policy issues from different perspectives, we maintained dignity in our disagreements. Chairman Gensler has been committed to bipartisan cooperation and the exchange of ideas with mutual respect, which has helped enhance our service to the American public. For this, we are deeply grateful.

ChainCatcher message, Gary Gensler allegedly posted a farewell on the X platform, stating: It has been my honor to serve as the Chair of the U.S. Securities and Exchange Commission. Public service is about giving back to our communities, whether they are neighborhoods, counties, or states; or, as part of this agency, I firmly believe that capital markets, competition, and common-sense rules benefit both investors and issuers. This is why the SEC and its staff play a critical role in overseeing the markets and ensuring compliance with common-sense rules of U.S. securities law:We have reduced costs and risks and enhanced the integrity of our two largest markets—the nearly $60 trillion stock market and the $28 trillion bond market;We have helped improve the transparency and integrity of corporate governance for public companies, including implementing new cooling-off periods and other conditions before insiders of companies that may possess significant non-public information trade their company’s securities;We have established rules requiring regulated broker-dealers and investment advisers to notify clients of data breaches that may put personal information at risk;We have laid the groundwork for important debates regarding the growing applications of artificial intelligence in the financial sector;We have updated the rules for the stock and bond markets, shortening the settlement cycle;We have returned over $2.7 billion to harmed investors.