Gensler Straddles Innovation and Enforcement at Senate Hearing

By Nikhilesh De – March 2, 2021 (CoinDesk)

“I’m neither a maximalist nor a minimalist but I do believe [blockchain is] a catalyst for change,” said Gary Gensler, the potential next chairman of the U.S. Securities and Exchange Commission (SEC).

Gensler was speaking to the Senate Banking Committee, which held a hearing Tuesday to consider his nomination to the SEC, along with President Joe Biden’s nominee to run the Consumer Financial Protection Bureau, Rohit Chopra. 

Gensler’s background suggests he is both pro-crypto and pro-regulation, and it remains unclear if the industry will perceive him as friendly or overzealous on regulation. The hearing didn’t provide too many clues because Gensler was careful to strike a balance between emphasizing regulating suspicious behavior and encouraging new innovations. 

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Since Chairman Patrick McHenry threatened to SUBPOENA Gary Gensler for NON-COMPLIANCE with Congressional oversight.

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