A surprising claim has been made about former SEC Chairman Gary Gensler, who was frequently criticized for his negative approach to Bitcoin and cryptocurrencies.
Former U.S. House Financial Services Committee Chairman Patrick McHenry said Gensler was not specifically against cryptocurrencies.
Noting that Gensler's stance on cryptocurrencies is very different from his private life, McHenry said his public stance stems from political concerns.
McHenry noted in an interview with Crypto in America host Eleanor Terrett that Gary Gensler is less anti-crypto in private than he is in public.
McHenry was asked if Gensler was truly against crypto, or was he just as against it in private as he was in public?
McHenry suggested in a recent post by Terrett on X that Gensler’s public stance was influenced by Senate politics and confirmation dynamics.
“No… No.
“I think Gensler's public stance on cryptocurrencies has more to do with Senate politics and confirmation politics.”
During Gensler's tenure, which began in 2021 and ends in January 2025, the SEC took an aggressive regulatory stance against cryptocurrencies.
The SEC’s hostile stance has led to Gensler and his team being heavily criticized by industry leaders, with Coinbase CEO Brian Armstrong saying the exchange would cut ties with law firms that employ former SEC officials and would no longer work with them.
*This is not investment advice.
