Ex-SEC chair Gary Gensler privately supported crypto — McHenry
Former SEC Chair Gary Gensler reportedly held a more nuanced view of crypto in private than his public stance suggested, according to former US Representative Patrick McHenry. McHenry stated that Gensler recognized the value of digital assets and blockchain technology during his time at MIT. However, once he became SEC chair, Gensler's position shifted to a more aggressive regulatory approach, leading to over 100 actions against crypto companies. McHenry described discussions with Gensler as often confusing, with initial agreements followed by contradictions. He suggested that Gensler's public opposition to crypto was influenced by Senate and confirmation politics. After leaving the SEC, Gensler returned to MIT to teach fintech and AI. The regulatory environment under his leadership faced significant backlash from industry leaders, including Coinbase and Gemini, who expressed intentions to distance themselves from former SEC officials and Gensler's influence.
