Gensler's Ambitious SEC Agenda Faces Pushback
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Gensler is ambitious and sees the SEC chairmanship as a stepping stone to becoming Treasury Secretary. He's more of a politician than a regulator.
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Gensler has proposed a flood of new rules across the financial sector, but many are bogged down by lawsuits and pushback.
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His aggressive stance against crypto and other industries risks judicial rulings that limit the SEC's power.
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He seeks to limit the CFTC's jurisdiction over crypto by arguing most tokens are securities, not commodities. This causes tension between agencies.
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The turf war over crypto regulation between the SEC and CFTC has led to a "dysfunctional marriage" and stalled enforcement cooperation.