SEC Chair Gary Gensler has criticized the cryptocurrency industry, stating that many projects lack a solid foundation and are likely to fail. He highlighted the speculative nature of the industry and the lack of fundamental stability. During his tenure, the SEC initiated over 100 enforcement actions related to cryptocurrencies, and Gensler has taken steps to ensure his regulatory policies endure even after his departure. U.S. Senator Tim Scott has vowed to reverse some of Gensler's policies, while former SEC official John Reed Stark warned that ongoing scrutiny from Gensler's appointees is expected.



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