SEC Chairman Gary Gensler maintained a combative stance, likening the crypto industry to the “Wild West.” Throughout his tenure, Gensler emphasized applying existing securities laws to crypto, particularly altcoins, while warning investors about the speculative nature of digital assets. He prioritized enforcing compliance, often targeting intermediaries such as brokers and exchanges.
Critics, however, argue that Gensler’s rigid policies stifled innovation. Kai Wawrzinek, founder of Impossible Cloud Network, stated, “Clear regulation for crypto is crucial for attracting institutional investment, and Gensler’s obstructive approach has hindered progress.”
With a crypto-friendlier U.S. administration incoming, industry leaders hope for more supportive regulatory frameworks to unleash growth.