Gary Gensler reaffirmed his crypto policy and crypto enforcement record. He spoke with CNBC’s Sara Eisen on Wednesday. Gensler said he had “no regrets” about his time at the SEC.
He called crypto a “highly speculative, very risky asset.” Gensler linked his SEC decisions to investor protection.
“We were consistently trying to ensure for investor protection,”
he said.
Gensler cited Sam Bankman-Fried to show the risks.
“Look at Sam Bankman-Fried, and he wasn’t alone,”
said Gensler. He left the SEC on Jan. 20 and returned to MIT Sloan.
SEC Under Paul Atkins, Crypto ETFs, and “Tokens as Securities”
The SEC under Paul Atkins signaled a new crypto policy. He addressed changes tied to President Trump’s agenda. He said the agency would proceed through rulemaking.
Before Atkins won Senate confirmation, acting chair Mark Uyeda dropped several crypto enforcement cases. Those steps marked a shift at the SEC. The emphasis moved away from broad litigation.
The new SEC message states that “very few tokens are securities.” It also introduced streamlined crypto ETF listing standards. That stance differs from the prior crypto enforcement posture.
Trump Plan on SEC Quarterly Reporting and Market Transparency
Trump proposed ending the SEC quarterly reporting model. He suggested twice-a-year reporting for public companies. He outlined the idea on Monday.
Paul Atkins responded on Friday. He said the SEC would “consider that and move forward” via a rule change.
“For the sake of shareholders and public companies, the market can decide what the proper cadence is,”
he said.
Gary Gensler urged investors to engage.
“If the investor base, the buy side, want to keep this, they have to speak up,”
he said. Gensler added, “transparency helps markets.” He warned that semiannual reports could add volatility.
Dropped Crypto Lawsuits, FTX, and Investor Protection
From 2021–2025, the SEC filed high-profile crypto enforcement actions. Industry voices criticized “regulation by enforcement.” They asked for clearer crypto policy rules.
In 2025, acting chair Mark Uyeda directed drops of several crypto lawsuits. Those actions came before Paul Atkins became chair. The decisions narrowed active SEC litigation.
Gary Gensler linked his record to FTX and other failures. He kept investor protection central. His remarks highlighted why the prior SEC moved quickly on crypto enforcement during the downturn.
What the SEC Shift Means for Crypto ETFs and Tokens
Under Paul Atkins, the SEC supports more predictable crypto ETF reviews. The agency set clearer paths for listings. That reduces uncertainty about timing.
The SEC also repeated that “very few tokens are securities.” That line affects token projects and exchanges. It suggests a narrower use of securities rules.
Reporting cadence may change most visibly. If adopted, Trump’s plan would replace SEC quarterly reporting with two updates a year. Gensler said investors should “speak up” if they want quarterly reports to stay.