WatcherGuru
President Trump said former SEC Chair Gary Gensler "nearly destroyed the American crypto industry," the sharpest verbal repudiation yet of the regulator's enforcement-first era. The remarks, posted to Truth Social, frame the next legislative push around a digital-asset market-structure bill the administration says must outlast any single administration.
Why it matters
"We will codify a future-proof digital asset market structure that cannot be undone by crypto haters," Trump wrote. The language tracks the administration's stated priority: not another CFAA-style enforcement sweep, but a statute that defines token classifications, intermediary registration, and SEC-CFTC jurisdiction in a way a future chair cannot unilaterally rewrite.
Market impact
A statutory framework is the cleanest path to removing the litigation-by-enforcement overhang that defined Gensler's term, and the comment reads as a signal that the White House is willing to spend political capital on the bill. The next test is whether a market-structure draft moves through committee this session — a clarifying rule is bullish for US-domiciled token issuers, custodians, and exchanges that have routed activity offshore under the current ambiguity.
Frequently asked questions
-
What did Trump say about Gary Gensler?
President Trump said former SEC Chair Gary Gensler "nearly destroyed the American crypto industry" — the sharpest public repudiation yet of the regulator's enforcement-first era.
-
What is the 'future-proof digital asset market structure' Trump is pushing for?
Trump said the administration will "codify a future-proof digital asset market structure that cannot be undone by crypto haters" — a statute defining token classification, intermediary registration, and SEC-CFTC jurisdiction.
-
Why does a market-structure bill matter for crypto?
A statute would replace litigation-by-enforcement with clear rules on how tokens are classified and which agency oversees them, removing the regulatory ambiguity that has driven activity offshore.
-
Who would benefit from a digital-asset market-structure law?
US-domiciled token issuers, custodians, and exchanges would benefit — entities that have routed activity offshore under the current ambiguity now face a clearer path to onshore compliance.
-
When could a market-structure bill move through Congress?
The next test is whether a market-structure draft moves through committee this session. The Trump comment reads as a signal the White House is willing to spend political capital on the bill.
CryptoSlate
Crypto Capital Venture
CoinTelegraph
WuBlockchain
CoinDesk