Return cryptocurrency gary gensler to myth leaves alumni shamefully

Gary Gensler, a former president of the US Securities Commission, is re -joined by the MIT’s Sloan School of Management as a professor of practice.

Gary Gensler will also be a member of the global groups for economics and management and financial groups, where he will work on artificial intelligence, finance, financial technology and public policy, says MIT a statementDated 27 January.

In addition to being a professor, he will also be Fintechai’s co-desigorator at the Informatics Laboratory and artificial intelligence, the largest research laboratory of the MIT.

Before he took over the role of President SEC during the Biden administration and monitored 120 trillion of US capital in the amount of $ 120 trillion, Gensler was a professor of practice at MIT SLAAN from 2018 to 2021. He was also the president of the trade commission for trading commodities under the President of President Obama, monitoring the implementation of reforms in the $ 400 trillion replacement market.

Gensler’s anti-crypto attitude

Within the crypto industry, Gensler was known for his sharp attitude “Everything is Security”. Gensler had a controversial relationship with Congress and other American regulators and criticized accounts that would codified a clearer crypto regulatory framework.

He has repeatedly said that most cryptocurrencies, except Bitcoin (BTC), should qualify as value papers, thus falling under the jurisdiction of SEC. In January 2022. Gensler said“The fact is that most of the crypto token includes a group of entrepreneurs who raise money from the public in anticipation of profit – a sign of investment contract or security in accordance with our jurisdiction.” At the annual conference of the Capital Markets Association Penn Law Law.

The result of such strict regulations has left the projects that work in the US in the legal limb, and President Donald Trump is now coming back.

Gensler also resisted the approval of the Spot Bitcoin ETF, pointing to the need to protect the investor and concern about market manipulation. The Council of Three Courts from the US Appellate Court for DC Circle in August 2023. He ruled against SEC, saying that the rejection of the agency to allow Grayscale to turn his Bitcoin Trust into the ETF was “arbitrary and capricious.” It was not until January 2024. – Under this legal and political pressure – DIP approved them.

Graduate MIT Devin Walsh did not refrain from his frustration because of Gensler’s return, calling him “a loss of time, tuition and energy.” Walsh, who fell in love with a cryptocurrency through the myth of the Digital Currency Initiative, broke through as a disappointment for students who want to support innovation.