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.