Former U.S. Congressman Patrick McHenry made a sensational statement on May 14, 2025: former SEC Chairman Gary Gensler privately expressed support for cryptocurrencies, which sharply contrasts with his public stance. According to McHenry, Gensler acknowledged the potential of cryptocurrencies, but his tough rhetoric was driven by political factors, particularly pressure from the Senate and the confirmation process. This information surfaced in an interview published this morning.
Gensler, who led the SEC until January 2025, was known for his criticism of the crypto industry, calling it a source of risks for investors. However, McHenry claims that in private conversations, Gensler saw opportunities in blockchain technology for simplifying payments and reducing costs. This statement has sparked a heated debate in the crypto community, as many believe that Gensler's strict policies have stifled the industry's growth. Will this revelation influence future U.S. regulatory policy? Stay tuned for updates! Subscribe to #MiningUpdates for the latest news.
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