• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Friday, June 13, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Crypto

SEC Chairman Gary Gensler doesn’t like Bitcoin’s approach to finance

by Reshab Agarwal
December 5, 2021
in Crypto, News, Trending
Reading Time: 2 mins read
0
"Don't get caught up in FOMO," SEC Chairman comments on crypto
TwitterWhatsappLinkedin

Bitcoin takes a very different approach to banking and finance. This is why BTC has produced very polarising views on it. Some appreciate it for its unique decentralized approach where people are the real owners of their money, and then we have those who think it should have never been invented (Charlie Munger). And now we have SEC Chairman Gary Gensler, who said that he doesn’t like Bitcoin’s approach to finance.

You might also like

CRED Raises ₹617 Crore as Valuation Drops 45% to $3.5 Billion

Bitcoin’s Next Frontier: Michael Saylor Predicts It’s Not Zero—It’s $1 Million

TRUMP Meme Coin Bleeds $50M Daily After Star Studded VIP Dinner

Gary Gensler on Bitcoin

In the whitepaper published by Satoshi Nakamoto, he said that Bitcoin follows an off-the-grid approach to finance. And Gary Gensler, who is not a big fan of DeFi, admitted that he doesn’t like this off-the-grid approach. According to him, Bitcoin has disrupted the entire global banking system. Even though it doesn’t sound like a good thing, but that is precisely what the aim of Bitcoin is. That is to take the control away from banks.

 Gary Gensler doesn't like Bitcoin's approach to finance
SEC Chairman, Gary Gensler

Gary’s take on this is that they have spent almost 40 years improving the banking system to avoid money laundering, make it secure, and have a robust banking system. And suddenly, out of the blue, in 2008, someone launched Bitcoin, which is now disrupting the industry they have built for so long. Therefore, he doesn’t like it as it undermines the banking consensus.

We should understand that the main reason Bitcoin exists is that the government doesn’t care about people’s money. They keep on printing more cash which gives rise to inflation, ultimately eating on what people earn. In countries like the US, the inflation rates are still manageable and can be beaten with proper investment. But in smaller countries like Venezuela, where we have hyperinflation, the ultimate victims are the people. Plus, Bitcoin brings banking facilities to everyone, which is not the case with traditional firms that are mostly for the upper class or present in developed countries.

This is bad news

Everyone in the crypto space was expecting some solid regulations from Gary and thought of him as a crypto enthusiast. But it seems that is not the case, and he has turned out to be against BTC. He is also the one who is fighting the lawsuit against XRP over the securities dispute. So, it is difficult to say if we are going to see him stand in favor of crypto.


What are your thoughts as Gary Gensler says that he doesn’t like Bitcoin’s approach to finance? And do you think his personal opinions will affect crypto regulations? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.

Also Read: Bitcoin’s price below $54k is a sale, say analysts. 

Tags: #Gary GenslerSEC
Tweet54SendShare15
Previous Post

Bitcoin’s price below $54k is a sale says analysts

Next Post

Bitmart exchange gets hacked losing around $190 million

Reshab Agarwal

Reshab is a tech-enthusiast who likes to write about all things crypto. He is a Bitcoin bull and believes in a decentralized future of finance. Follow him on Twitter for more!

Recommended For You

CRED Raises ₹617 Crore as Valuation Drops 45% to $3.5 Billion

by Rounak Majumdar
June 13, 2025
0
CRED Raises ₹617 Crore as Valuation Drops 45% to $3.5 Billion

CRED, the Bengaluru-based fintech unicorn renowned for its credit card payment platform, has closed a fresh funding round of ₹617 crore (approximately $72 million). However, this new capital...

Read more

Bitcoin’s Next Frontier: Michael Saylor Predicts It’s Not Zero—It’s $1 Million

by Anindya Paul
June 13, 2025
0
Saylor

Introduction In a bold statement on Bloomberg TV on June 10, 2025, Michael Saylor, co-founder and executive chairman of Strategy (formerly MicroStrategy), declared that Bitcoin has passed its...

Read more

TRUMP Meme Coin Bleeds $50M Daily After Star Studded VIP Dinner

by Anindya Paul
June 12, 2025
0
TRUMP

Since hosting a glamorous VIP gala for top holders of his Official Trump (TRUMP) meme coin on May 22, Donald Trump’s cryptocurrency venture has suffered significant financial losses. In...

Read more
Next Post
Bitmart exchange gets hacked losing around $190 million

Bitmart exchange gets hacked losing around $190 million

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?