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Bitcoin (BTC-USD) surged on Donald Trump's reelection as the former president's second administration is expected to be pro-crypto. Trump's return to the White House will mark the end of US Securities and Exchange Commission (SEC) Chair Gary Gensler's tenure, as he's set to step down on Jan. 20. The outgoing SEC chair has been regarded as a hindrance for crypto.
Gensler sits down with Yahoo Finance senior reporter Jennifer Schonberger to discuss his view that his tough-on-crypto stance did not influence voters in the 2024 presidential election.
"I think that it's important to build trust in capital markets, that people comply with the laws as passed by Congress and that this great agency enforces," Gensler says, comparing requiring crypto-specific SEC regulations to hybrid vehicle-specific traffic laws.
"We apply the laws across financial markets consistently, and the crypto field is non-compliant," he adds.
The outgoing SEC chair dismisses the idea that his crypto stance influenced the election, saying, "I haven't seen any indication that crypto is what drove people one way or the other," adding "they were voting on other things, other pocketbook issues, whether that's around inflation or other economic issues."
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Catch Jennifer Schonberger's full interview with outgoing SEC Chair Gary Gensler, where they discuss his tenure at the regulatory agency and the future of cryptocurrency regulation.
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This post was written by Naomi Buchanan.