CandleFocus Gensler Defends His Crypto Policy in “Farewell Speech,” Prepares for Trump’s Replacement
2024-11-14
Author: Content Editor
Gary Gensler, Chair of the SEC, gave a speech defending his strict regulatory policies against the crypto industry, despite President-elect Donald Trump vowing to fire him. Gensler criticized the industry for causing "significant investor harm" and lacking sustainable use cases. Trump's transition team is considering pro-crypto candidates to replace Gensler, and Trump has promised to revolutionize crypto regulation. Gensler's hostility has faced pushback, with increasing bipartisan support for positive crypto regulations. Despite targeting smaller assets, Gensler's aggressive pursuit is seen as unsustainable. Gensler's closing remarks suggest he may resign or leave the SEC, as Trump's proposed crypto regulation policy differs from his approach. Justin Sun offered Gensler a job at Tron if he wants to continue working in the industry during Trump's presidency.
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