Gensler pushed back against critics who say his approach blocked innovation, and he framed his enforcement work as aimed at protecting everyday investors.
A second line of argument around Gensler’s legacy is tied to a notable policy outcome: spot Bitcoin exchange-traded products were approved while he was chair.
On January 10, 2024, the SEC issued orders allowing a set of spot Bitcoin ETP listings — a move observers said reflected both legal pressure and shifts inside the agency. That approval has been cited as one of the major market milestones from his tenure.
Lawsuits and investigations involving big exchanges — including Binance, Coinbase, and Kraken — have been dismissed or closed, and the long-running dispute with Ripple has come to an end following recent filings. Market watchers say this marks a meaningful pivot in enforcement posture at the regulator.
At the same time, exchange leaders publicly emphasized that what matters now is clear rules and investor protections, not personal attacks.
Featured image from Tom Williams—CQ-Roll Call, Inc/Getty Images, chart from TradingView
