However, his focus on crypto assets—amid rising criticism from industry stakeholders—has cast a divisive shadow over his legacy. The upcoming leadership transition raises significant questions about the future of crypto regulation and broader market oversight in the U.S.
Gensler’s Tenure: Enforcement Actions and Crypto Oversight
During his term, Gensler presided over reforms to the $28 trillion U.S. Treasury market and implemented the first major updates to the $55 trillion U.S. equity market in nearly two decades.
Under his leadership, the SEC initiated over 2,700 enforcement actions, resulting in $21 billion in penalties and disgorgements. The agency also returned $2.7 billion to harmed investors between 2021 and 2024.
A major hallmark of Gensler’s tenure has been his aggressive stance on cryptocurrency regulation. While crypto constitutes less than 1% of U.S. capital markets,…
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