From Critic to Chairman: Gensler’s Contrasting Stances on Bitcoin ETFs Revealed

SEC Chairman Gary Gensler is under scrutiny following the emergence of a video from 2019, when he was not a member of the SEC, in which he criticized the Securities Commission’s “inconsistent” approach to approving Bitcoin ETFs. The video highlights a significant contradiction between Gensler’s past and current views.

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler is facing criticism following the emergence of his past views on cryptocurrencies. In a recently resurfaced video, Gensler is seen discussing the “inconsistent” stance of the SEC on Bitcoin products in a conversation he had in 2019 before becoming a member of the SEC.

Gensler’s Current Stance Contradicts His Previous Thoughts

In the revealed video, Gensler comments, “Bitcoin futures, Ethereum futures, and the likes will continue to exist, but there are no Bitcoin ETFs, and this seems a bit inconsistent to me.” This remark is particularly notable considering the SEC had rejected numerous spot Bitcoin ETF applications up until 2017.

Gensler’s old views have resonated within the crypto community. Many argue that there’s a significant inconsistency between Gensler’s past statements and his current stance. Market analyst Zack Voell commented on social media, saying, “Gary Gensler challenges his own past views.” Other comments highlighted a longing for Gensler’s previously calm and balanced approach.

Source: Cointelegraph

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