Recently noting the 16th anniversary of Bitcoin’s white paper, Gary Gensler, the chair of the U.S. Securities and Exchange Commission, sarcastically referred to it as a “sweet sixteen” in an interview with Bloomberg. For the bitcoin first unveiled to the public in 2008, this October 31 milestone signals a turning point.
Gensler made clear, despite this playful reference, that the SEC will not alter its policy of “regulation by enforcement.” He voiced worries about the dangers connected to digital assets, saying that safeguarding investors and guaranteeing fair market procedures still remain the key priorities of the SEC.
Congress and other regulatory agencies have created robust rules that have maintained market integrity for almost nine decades, according to Gensler. Emphasizing that this work would always be ongoing, he reaffirmed the SEC’s responsibility in protecting investors and advancing capital creation.
The interviewer asked Gensler how he would respond if Republican presidential candidate Donald Trump won the 2024 election and carried out his promise to remove the SEC chair. Gensler avoided talking about Trump’s financial programs or his possible dismissal.
His remarks came soon after the Division of Examinations of the SEC declared that 2025 will see a major focus on cryptocurrencies. Despite criticism from legislators and business leaders regarding his regulatory approach, Gensler did not indicate a change in the commission’s rigorous stance on the crypto sector.
Gensler’s recognition, coinciding with Bitcoin’s 16th birthday, underscores the cryptocurrency’s ongoing impact and the ongoing legal challenges it faces.
