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After much scrutiny and speculation, SEC chair Gary Gensler is all set to finally step down from his position as the US SEC chair. This has brought forth a new wave of change within the cryptocurrency sector as Gensler exits from the current domain. The transformation mainly comprises a celebratory wave, as Gensler can be touted as a skeptic when it comes to the realm of cryptocurrencies in general. The overall market is currently green, with Bitcoin treading close to hitting $100K, but above all, will Ripple (XRP) be able to manage a new ATH now that Gensler is out of the picture? Also Read: MicroStrategy (MSTR) Raises $3 Billion to Purchase More Bitcoin Ripple To Hit An All-Time High Now? Source – CryptoRank Gary Gensler has decided to step down from his position at the US SEC. As the Trump regime took over the White House, the president-elect’s agenda included removing Gensler from the highly esteemed position of US SEC chair. With Gensler moving away from the highly esteemed p...

Speaking to CNBC today the US Securities and Exchange Commission (SEC) chair, Gary Gensler said that Bitcoin is the leading market share of ransomware. Indeed, Gensler has continued to voice his disapproval of the asset, and the industry, overall. This was said despite the agency’s approval of 11 Spot Bitcoin ETFs earlier this year. Following those landmark approvals, Gensler released a statement. Within it, he noted that the applications mirrored “those we have disapproved in the past.” While stating that “circumstances have changed,” leading to the approval. However, in that statement, he also spoke of Bitcoin’s connection to ransomware as a reason for his disapproval of it. JUST IN: 🇺🇸 SEC Chair Gary Gensler says #Bitcoin is the leading market share of ransomware. — Watcher.Guru (@WatcherGuru) February 14, 2024 Also Read: Gary Gensler Issues Statement on Spot Bitcoin ETF Approvals SECs Gensler Once Again Calls...

SEC chair Gary Gensler is open to the idea of FTX’s revival , provided its new management operates within legal parameters. This openness from Gensler came to light following revelations that Tom Farley, ex-president of the New York Stock Exchange, might be looking to acquire the now-bankrupt exchange previously led by Sam Bankman-Fried, who has been convicted of fraud. Gensler open to FTX revival under legal compliance Speaking at DC Fintech Week on Nov. 8, Gensler advised potential market entrants to gain investor trust through transparency and compliance with the law, emphasizing the importance of proper disclosures and avoiding conflicts of interest, such as trading against customers or misusing their assets. Farley, currently at the helm of Bullish, a cryptocurrency exchange launched in 2021, is among the contenders for FTX, alongside Figure Technologies and Proof Group, as reported by crypto.news earlier. The successful bidder could relaunch FTX post-bankruptcy, with ...

Crypto Misconduct Daunting In response to a question on the US SEC’s strength in terms of having enough staff for enforcing regulation on the crypto ecosystem, Gensler said the agency is far from being overstaffed. United States Senator Catherine Cortez Masto had asked whether the agency was understaffed particularly on the enforcement side. Gensler stated that the agency is only 3% larger in terms of staff count compared to 7 years ago. advertisement “The markets have grown 50-60% in terms of activity and complexity.” He added that in terms of crypto, the SEC Chair said, “I have been around finance 44 years now and I have never seen a field that’s rife with more misconduct. It’s daunting.” In October 2022, CoinGape reported that the SEC staff lacks knowledge required to draft rules for the crypto market. It was revealed that over 20% of the senior attorneys and officials, likely as a result of Gensler’s failure as the Ch...