Gary Gensler Resigns as SEC Chairman, Returns to MIT to Focus on AI, FinTech, and Public Policy

Jakarta, Pintu News – After serving four years as the Chairman of the Securities and Exchange Commission (SEC) under the Biden administration, Gary Gensler has decided to return to the Massachusetts Institute of Technology (MIT) as a Professor of Practice at the MIT Sloan School of Management.

This decision follows the inauguration of Donald Trump as the 47th President of the United States on January 18, 2025. Prior to Trump’s presidency, Trump had promised to fire Gensler on his first day in office, but Gensler chose to step down before being dismissed.

Here’s the full story!

Gensler’s Reputation as the ‘Crypto Enemy’ During His SEC Tenure

During his time at the SEC, Gensler became known for his tough stance on the cryptocurrency industry. He was involved in several legal actions against crypto companies and faced criticism from both investors and industry players. Gensler was accused of misleading Congress about the status of Ethereum and was seen as a hindrance to innovation in the digital asset sector. Even Hester Peirce, an SEC commissioner often referred to as “Crypto Mom,” openly criticized Gensler’s overly stringent approach, which she felt did not support the development of blockchain technology.

With Gensler’s resignation, the crypto industry now sees a glimmer of hope for more flexible regulation. This optimism is reflected in the surge of crypto ETF applications following his departure, indicating a potential shift in market sentiment.

Back to MIT: Focusing on AI, FinTech, and Public Policy

At MIT, Gensler will join the Global Economics and Management Group and the Finance Group, where he will research the intersection of artificial intelligence , fintech, and public policy. As part of his duties, he will lead the FinTech AI initiative at the MIT Computer Science and Artificial Intelligence Laboratory (CSAIL) alongside Professor Andrew W. Lo. This program will involve various companies exploring the impact of AI on the financial and fintech sectors.

In his statement, Gensler expressed his excitement about returning to MIT and collaborating with academics to create a better future through technology.

Will Gensler’s Stance on Crypto Change?

Gensler’s return to academia has sparked new speculation. Many are wondering if he will soften his stance on cryptocurrencies, especially given that before becoming SEC Chairman, Gensler was fairly open to blockchain innovation. A former SEC member, Anne Kelley, even joked, “Will Gensler become pro-crypto now that he’s at MIT?” Before joining the SEC, Gensler taught courses on blockchain and crypto at MIT, fueling curiosity within the crypto community about whether his views might change.

Conclusion

As Gensler steps away from his role at the SEC, the crypto industry watches closely to see if his time at MIT will lead to a shift in his views on cryptocurrency regulation. With new leadership, there’s potential for a more favorable environment for crypto innovation in the future.

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References:

• BeInCrypto. Gary Gensler Returns to MIT. Accessed January 30, 2025.
• Crypto Times. SEC Former Chair Gary Gensler is Now an MIT Professor. Accessed January 30, 2025.
• Featured Image: Forbes