Gensler has been zeroing in on crypto regulation as trading platforms and the market broadly have boomed. He previously told the Financial Times that the crypto market was “at the level and the nature that if it’s going to have any relevance five and 10 years from now, it’s going to be within a public-policy framework.”
The cryptocurrency space has surged in an exponential way this year. The total market capitalization of all cryptocurrencies surged to $3 trillion for the first time. The figure is almost the size of the entire UK economy, according to a report by Insider. Meanwhile, Bitcoin — the largest crypto by market value surged to an all-time high of $69,000 last month before it plunged back to around $50,000.
