The True Attitude of Gary Gensler Towards Cryptocurrency
In a conversation on the podcast 'Crypto in America', former SEC Chairman Gary Gensler did not appear to be confrontational towards cryptocurrency as he publicly portrayed. According to Congressman Patrick McHenry, Gensler recognized the value of digital assets and the potential of blockchain technology while at the Massachusetts Institute of Technology (MIT). He even participated in developing the idea of 'airdrop' in academic research.
However, since becoming SEC Chairman, Gensler's perspective has changed dramatically. McHenry acknowledges he was mistaken in thinking Gensler would not be overly tough in his new position. Gensler's public opposition to cryptocurrency may be influenced by 'Senate politics and political confirmation' rather than the substance of the issue.
Under Gensler's leadership, the SEC has taken more than 100 legal actions against companies in the industry, drawing criticism and backlash from leaders in the field. The SEC's actions led many companies like Coinbase and Gemini to decide to sever ties with lawyers or students from MIT, if they were related to Gensler.
After leaving the SEC in January 2023, Gensler returned to MIT to teach fintech and artificial intelligence. Gensler's tough policies have put the cryptocurrency industry in a difficult position, causing considerable controversy among the public and the industry.
Source: https://tintucbitcoin.com/cuu-chu-tich-sec-gensler-kin-dao-ung-ho-tien-dien-tu/
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