Ex-SEC Chair Gensler Privately Supported Crypto, Says McHenry

Former U.S. Representative Patrick McHenry revealed that former SEC Chair Gary Gensler privately held a more favorable view of cryptocurrencies than his public stance suggested. Despite recognizing the value of blockchain and digital assets, as reflected in his academic work at MIT, Gensler led a tough regulatory crackdown on crypto firms during his SEC tenure, sparking backlash from the industry. McHenry suggested that Gensler's public hostility may have been driven by political pressures, and expressed disappointment in his aggressive regulatory approach. The crypto industry remains frustrated by inconsistent enforcement and unclear regulations, calling for more supportive and transparent policies.

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