Gary Gensler

Gary Gensler served as SEC Chairman from 2021 to 2025, having previously chaired the CFTC from 2009 to 2014. At the CFTC, he oversaw the implementation of Dodd-Frank derivatives reforms after the 2008 crisis. As SEC Chair, he launched aggressive enforcement against the cryptocurrency industry, pursued new equity market structure rules (including payment for order flow reform), and proposed extensive ESG disclosure requirements. His tenure was controversial, with strong business opposition to his rule-making pace and scope. His background includes 18 years at Goldman Sachs, where he rose to become a partner and co-head of finance, followed by service in the Clinton Treasury Department. At MIT's Sloan School of Management, he developed and taught courses on blockchain technology and financial systems, which informed his views on the regulatory status of digital assets. He consistently argued that existing securities laws were sufficient to regulate crypto markets and that most tokens met the Howey test for investment contracts. His tenure generated more than 100 enforcement actions against crypto entities and resulted in landmark court cases that will define the boundaries of crypto regulation for years. He was a student of Alan Greenspan and Ben Bernanke and received his economics degree from the University of Pennsylvania.