SEC Chair Gary Gensler expresses pride in the agency’s efforts on crypto regulation as his tenure nears an end. He highlights ongoing work needed, emphasizing a foundation laid by previous chairs, particularly Jay Clayton. The chair attempted to reign in noncompliance within the crypto sector, focusing on ethical standards.

Gensler often highlighted the predominance of bad actors in crypto and maintained that most cryptocurrencies are securities, urging firms to register. Despite resistance from the industry, Gensler upheld stringent enforcement, bringing about 100 actions throughout his leadership. These efforts were aligned with actions taken during Jay Clayton’s tenure.

Gensler divides the crypto market into Bitcoin versus altcoins, noting the industry’s reliance on sentiment rather than fundamentals. His perspective underlines the unique nature of crypto trading compared to traditional markets. Despite this, Gensler stresses the importance of continued regulatory vigilance as his service concludes.