Gary Gensler said it was the “honor of a lifetime” to work with colleagues at the SEC who carried out their mission with integrity and enforced the law without fear or favor. The official said he was satisfied with his efforts to curb the “wild market” of the cryptocurrency industry and was grateful for the confidence of the outgoing Joe Biden administration.
The SEC Chairman recalled that his agency was criticized by crypto market participants and accused of failing to regulate digital finance and hindering the development of the US crypto industry. However, when the case came to court, the justice authorities generally supported the position of the head of the SEC.
Gensler, known for his tough leadership style, will be remembered as one of the main masterminds of lawsuits against the exchanges Coinbase, Kraken and Binance, as well as many other cryptocurrency companies, where the main allegations of fraud, failure to register and violation of securities laws were the main focus of the lawsuits.
Shortly before his election, Trump promised to fire Gensler. The Washington Post reported that Trump’s team is exploring nominees to lead government regulators. The candidates may include people who have a “friendly attitude towards cryptocurrencies,” the newspaper’s sources made it clear.
Source: Bits
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