Gary Gensler is the current chair of the United States Securities and Exchange Commission (SEC), which is the regulatory agency responsible for overseeing the securities markets in the United States. Recent reports uncovered Binance past interest in Gensler’s regulatory experience.
Based on reports, Binance once tried to hire current SEC Chair Gary Gensler to advise on regulations as it created Binance.US.
Gensler reportedly declined the offer after meeting with Ella Zhang and Harry Zhou but shared some license strategies.
Zhou noted in the Telegram chat:
“I observe that while Gensler declined advisor-ship, he was generous in sharing license strategies.”
There is no direct connection between Gary Gensler and Binance. However, the SEC has recently increased its scrutiny of cryptocurrency exchanges and has taken actions against several exchanges, including Binance. In July 2021, the SEC announced that it was investigating Binance to determine whether the exchange had violated US securities laws. This investigation is ongoing, and it is not yet clear what the outcome will be.
It’s worth noting that Gary Gensler has been an advocate for increased regulation of the cryptocurrency industry. In a recent interview with the New York Times, he stated that “crypto assets, including Bitcoin, are ripe for regulatory oversight.” He also called for more transparency and accountability in the industry. His views on regulation and oversight could have an impact on the SEC’s approach to investigating and regulating cryptocurrency exchanges like Binance.