The Crypto Sheriff's Last Stand

Gary Gensler's Regulatory Rodeo Comes to an End

Author

Antoinette Rodriguez, MBA
November 26, 2024

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When the crypto sheriff rides into the sunset, will the Wild West get wilder?

Antoinette Rodriguez - Crypto Decoded Author

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: 

  • Widespread fraud and market manipulation 

  • Use of crypto for illicit activities including ransomware and money laundering 

  • Lack of transparent, balanced information for investors 

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