SEC Chairman Says Election Results Have No Connection to Crypto Funds

Outgoing SEC Chairman Gary Gensler has warned that the outcome of the 2024 US presidential election could be influenced by cryptocurrency interest groups.
On the 14th (local time), SEC Chairman Gensler said on CNBC's "Squawk
In an interview with Box, he said, “Crypto-focused voters and digital asset interest groups are driving the funding of digital assets.”
"It is unlikely that this had any impact on Donald Trump's election," he said. Gensler is set to step down on the 20th, the same day Donald Trump was inaugurated as president in Washington, D.C.
In the interview, he also mentioned existing issues related to investor protection during his term. Chairman Gensler said, "In this election, there was a lot of money raised in the cryptocurrency sector.
"But I don't think the election was decided by that," he said. "The cryptocurrency space is a highly speculative space, and there are anti-money laundering laws, sanctions laws, and in our case,
"The SEC has not complied with various laws and regulations, including the securities laws," Gensler said.
The US Securities and Exchange Commission has taken multiple legal actions against cryptocurrency companies such as Ethereum Labs and Binance. The industry needs to provide clear operating rules to allow them to operate while avoiding violations of US securities laws.
The SEC has continually criticized the agency for not allowing regulators to make decisions on its behalf.