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Crypto Market Won’t ‘Last Long Outside’ Regulatory Framework, Gensler Says
Platforms should be “asking for permission” rather than “begging for foregiveness,” the SEC chair said.
Updated May 11, 2023, 4:33 p.m. Published Sep 1, 2021, 8:20 p.m.
The crypto market may struggle to survive in the U.S. outside the country’s regulatory framework, according to U.S. Securities and Exchange Commission Chair Gary Gensler.
- The industry’s future in five to 10 years lies “within a public policy framework,” Gensler said in an interview with the Financial Times Wednesday.
- “History just tells you, it doesn’t last long outside. Finance is about trust, ultimately,” the SEC chair said.
- Gensler reiterated his desire for crypto trading platforms to register with the SEC because a number of cryptocurrencies can be deemed as securities. “Talk to us, come in,” he said.
- “There are a lot of platforms that are in operation today that would do better engaging. Instead there is a bit of ... begging for forgiveness rather than asking for permission.”
- Gensler has said previously that he is weighing up more robust regulation of the crypto market, dampening hopes held by many in the industry that his interest in the space may lead to a rather hands-off regulatory approach.
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Read more: DeFi Not Immune to SEC Oversight, Gensler Says: Report
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- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Crypto CEOs Join U.S. CFTC's Innovation Council to Steer Market Developments
The chief executives of firms such as Gemini and Kraken will pitch in on U.S. policy efforts through the council's future, public discussions.
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- In her final days atop the agency, Commodity Futures Trading Commission Acting Chairman Caroline Pham announced her CEO Innovation Council, replete with crypto executives.
- The names include the chief executives from Gemini, Kraken, Polymarket, Bitnomial and several others.
- The CFTC is expected to get its permanent chairman very soon when the Senate votes on the confirmation of Mike Selig, President Donald Trump's nominee.
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