US Securities and Change Fee (SEC) Chair Gary Gensler’s time period is about to finish on January 20, stepping down amid the incoming Trump administration’s transition into the White Home. President-elect Donald Trump has chosen former SEC Commissioner Paul Atkins as his nominee to steer the regulatory company.
SEC Chair Gensler sits down with Yahoo Finance senior reporter Jennifer Schonberger to speak about his legacy and chief accomplishments on the helm of the company, from capital market laws and the SEC’s personal cryptocurrency frameworks. When requested concerning the crypto neighborhood’s position in propelling Trump to a 2024 election victory, Gensler notes:
“I believe voters are good sufficient to know and so they have been voting on different issues, different pocketbook points, whether or not that is round inflation or different points, financial points. I have not seen any indication that crypto is what drove individuals by some means [to the polls].”
Spot bitcoin (BTC-USD) ETFs drew in over $36 billion of investor inflows in 2024 after the funds gained approval early final 12 months. Gensler notes the SEC has by no means recognized crypto belongings like bitcoin and ethereum (ETH-USD) as securities, main him to ponder: “You want fundamentals, in the end. Momentum can solely carry you up to now. And so I believe for any investor listening, you actually need to assume via, these will not be solely extremely speculative, however on hundreds and hundreds of tasks, it’s a must to query what’s their true use case? What’s their worth proposition?”
Gensler goes to weigh in on Coinbase’s (COIN) personal push for crypto regulation, the Federal Reserve’s place in investing in a strategic bitcoin reserve, the way forward for synthetic intelligence guardrails, and the durability of the US Treasuries market (^TYX, ^TNX, ^FVX) in one other monetary disaster.
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