Former Chairman of the U.S. Securities and Exchange Commission (t-28) Gary Gensler stated that he does not regret his approach to cryptocurrency regulation during his four years at the agency. In an interview with CNBC, he did not acknowledge any mistakes on his part, despite significant changes in the commission's policy under new leadership.
When program host Sara Eisen asked Gensler about his feelings regarding current SEC head Paul Atkins reversing many of his cryptocurrency decisions, the former agency head replied that he is "proud" of his work. According to him, he made the right decisions regarding the regulation of digital assets.
"We have consistently sought to protect investors," Gensler said, discussing the SEC's actions against crypto companies during his tenure. "And in doing so, we faced many fraudsters: look at Sam Bankman-Fried [head of FTX], and he was not the only one."
Gensler left office on January 20 — on the day of Donald Trump's inauguration. During the 2024 campaign, Trump threatened to fire Gensler "on the first day" if he wins the election. After his resignation, the former SEC head returned to teaching at MIT Sloan School of Management.
Radical changes in the approach to cryptocurrencies
The crypto industry criticized Gensler for the practice of "regulation by enforcement," which led to lawsuits against several major companies. Some of these cases were dismissed in 2025 by order of the SEC under the Trump administration.
Gensler headed the SEC from 2021 to 2025 — during a cryptocurrency market downturn, widespread fraud through the FTX exchange, and the bankruptcy of many companies. Under Trump, the agency radically changed its approach. Acting SEC head Mark Uyeda halted lawsuits and investigations against many crypto companies even before the Senate confirmed Atkins' nomination.
The new agency leadership stated that "very few tokens are securities" and introduced simplified listing standards for the approval of cryptocurrency exchange-traded funds.
Proposal to cancel quarterly reporting
One of the most significant changes in SEC policy may be the abandonment of quarterly reporting requirements for American companies. On Monday, Trump proposed switching to a reporting model twice a year.
Atkins stated that the SEC "will consider this and move forward" after the proposal for changes in the rules.
"For the sake of shareholders and public companies, the market can decide how often to report," Atkins said.
Gensler expressed concern about the proposed changes. "I think if the investment base wants to keep this, they need to state that," he said on Wednesday. "For me, transparency helps the markets. If we move to reporting only twice a year instead of four times, the markets will become a bit more volatile."
