Key Takeaways
- Gary Gensler hints at potential resignation as SEC Chair.
- Gensler led major reforms in U.S. equity and Treasury markets.
- Gensler reiterated that Bitcoin is not considered a security by the SEC.
During the PLI’s 56th Annual Institute on Securities Regulation, SEC Chair Gary Gensler indicated he might step down from his position.
In his speech, he praised the SEC staff and expressed pride in their dedication to public service, noting that they “could make more money elsewhere” but choose to protect U.S. capital markets.
Background
Since his appointment in 2021, Gensler’s leadership has focused on substantial regulatory efforts.
He highlighted updates to the $60 trillion equity market and reforms in the $28 trillion Treasury market, underscoring the SEC’s efforts to ensure fairness and stability for investors and issuers.
SEC on Bitcoin
Gensler also spoke on crypto assets, clarifying that Bitcoin is not considered a security, consistent with previous statements from the SEC.
He highlighted the SEC’s approval of Bitcoin futures ETFs in 2021, which, he noted, provided benefits like oversight, lower fees, and enhanced competition for investors.
