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The Crypto Sheriff's Last Stand
Gary Gensler's Regulatory Rodeo Comes to an End
Antoinette Rodriguez, MBA
November 26, 2024
When the crypto sheriff rides into the sunset, will the Wild West get wilder?
Like a strict parent who sets rigid rules without a clear playbook, Gary Gensler's departure as SEC Chair on January 20, 2025, when Trump retakes the Presidential office, may mark the end of a contentious era in cryptocurrency regulation.
While crypto enthusiasts celebrate the end of Gensler's tenure, his regulatory approach reflects a complex balance between necessary oversight and potential overreach. Por ejemplo (for example):
The Enforcement Legacy
Under Gensler's watch, the SEC launched over 2,700 enforcement actions, with crypto cases costing the industry more than $400 million in legal defense costs alone. His aggressive approach saw major battles with industry giants like Coinbase and Ripple, while consistently maintaining that most cryptocurrencies should be classified as securities.
Legitimate Concerns
Gensler's warnings about industry risks proved prescient. He highlighted several critical issues including: