In one of his rare media appearances since departing from the US Securities and Exchange Commission (SEC) in January, Gary Gensler expressed that he has no regrets about his approach to crypto enforcement during his four-year tenure at the agency.
In a Wednesday interview, CNBC’s Sara Eisen inquired of the former SEC chair regarding the agency under Paul Atkins “reversing a lot of what [he] did” in terms of crypto policies, noting that many investors were “ecstatic” he was no longer at the helm of the commission.
Gensler stated he was “proud” of his tenure at the SEC, affirming that he made the right decisions in regulating digital assets, and reiterated his assertions that crypto represents a “highly speculative, very risky asset.”
“We were consistently endeavoring to ensure investor protection,” Gensler remarked, referring to SEC enforcement actions against crypto companies during his leadership. “And in the process, we encountered numerous fraudsters: Look at Sam Bankman-Fried, and he wasn’t alone.”
Gensler left the SEC on Jan. 20, coinciding with the day US President Donald Trump assumed office. During his 2024 campaign, Trump threatened to dismiss Gensler “on day one” if elected. Following his departure, Gensler returned to a position at the MIT Sloan School of Management.
Related: SEC chair promises notice before enforcement for crypto businesses: FT
Many individuals within the crypto industry criticized the former SEC chair for his regulation-by-enforcement strategy toward digital assets, resulting in lawsuits against numerous prominent companies. Some of those cases were dismissed in 2025 under the direction of the SEC during Trump’s administration.
Trump proposed that the SEC abandon requirements for quarterly reports
While Gensler was SEC chair from 2021 to 2025, amidst a downturn in the cryptocurrency market, significant fraud via cryptocurrency exchange FTX, and multiple companies filing for bankruptcy, the agency has dramatically altered its approach under Trump.
In addition to lawsuits and investigations against several crypto companies being terminated by acting SEC Chair Mark Uyeda before Atkins’ Senate confirmation, the agency’s leadership has stated that “very few tokens are securities” and has introduced simplified listing criteria for cryptocurrency exchange-traded fund approvals.
In what could be among the most significant policy shifts at the SEC affecting investors, Trump announced on Monday that the agency ought to discard its quarterly reporting requirements for US companies, transitioning to a model of reporting twice a year.
Atkins noted on Friday that the SEC would “consider that and move forward” following a proposed rule adjustment.
“For the benefit of shareholders and public companies, the market can determine the appropriate reporting cadence,” Atkins stated.
“I believe if the investment community, the buy side, wishes to maintain this, they need to voice their opinions,” Gensler remarked on Wednesday regarding the proposed amendment. “For me, I believe transparency benefits markets. If we switch to reporting only twice per year rather than quarterly, the markets may become a bit more volatile.”
Magazine: SEC’s U-turn on crypto leaves key questions unanswered
