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Gary Gensler Profile picture
@GaryGensler
Jan 9, 2024 • 1 tweets • 1 min read • Read on X
The @SECGov twitter account was compromised, and an unauthorized tweet was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.

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More from @GaryGensler

Gary Gensler Profile picture
Nov 21, 2024
On January 20, 2025 I will be stepping down as @SECGov Chair.

A thread 🧵⬇️
The SEC is a remarkable agency. The staff & the Commission are deeply mission-driven, focused on protecting investors, facilitating capital formation, & ensuring that the markets work for investors & issuers alike. The staff comprises true public servants.
It has been an honor of a lifetime to serve w/ them on behalf of everyday Americans & ensure that our capital mkts remain the best in the world.

I thank @POTUS for entrusting me w/ this incredible responsibility. The SEC has met our mission & enforced the law w/o fear or favor.
Read 4 tweets
Gary Gensler Profile picture
Apr 17, 2024
It’s been an honor to serve as @SECGov Chair. Over the past 3 years, I’ve seen firsthand how the incredible staff at the SEC serve investors and issuers alike.

A thread 🧵
We’ve filed more than 2,000 enforcement actions. And @SECGov enforcement actions have resulted in orders for more than $6 billion in civil penalties and more than $6 billion in disgorgement.
We've been working on making our markets more efficient, competitive, transparent, and resilient.

We’ve finalized 38 rules – on Treasury clearing, corporate governance, and money market funds, to name a few.
Read 4 tweets
Gary Gensler Profile picture
Jan 8, 2024
A thread 🧵

Some things to keep in mind if you're considering investing in crypto assets:
1⃣ Those offering crypto asset investments/services may not be complying w/ applicable law, including federal securities laws. Investors in crypto asset securities should understand they may be deprived of key info & other important protections in connection w/ their investment.
2⃣ Investments in crypto assets also can be exceptionally risky & are often volatile. A number of major platforms & crypto assets have become insolvent and/or lost value. Investments in crypto assets continue to be subject to significant risk.
Read 4 tweets
Gary Gensler Profile picture
Aug 15, 2023
I believe AI is the most transformative tech of our time, on par w/ the internet & mass production of cars. AI is used in finance for acct openings, compliance programs, trading algorithms, sentiment analysis, & more. It’s fueled change with robo-advisers & brokerage apps.

🧵⬇️
I think AI is going to continue significantly transforming science, technology, & commerce. It is important to focus on the challenges of AI. Given that we’re dealing with automation of human intelligence, the gravity of these challenges is real.
When communications, product offerings, & pricing can be narrowly targeted, producers are more able to find each individual’s maximum willingness to pay a price or purchase a product. With such narrowcasting, there is a greater chance to shift consumer welfare to producers.
Read 7 tweets
Gary Gensler Profile picture
Mar 30, 2023
Today’s markets are not as fair & competitive as possible for individual investors.

To modernize our market system and make it work better for everyone, we made four proposals on key parts of our equity market system.

Please submit comments by tomorrow.
🧵⬇️
1⃣ Best Execution

This rule would set a best execution standard & framework for broker-dealers. It would help ensure that brokers have policies & procedures in place to uphold one of their most important obligations: to seek best execution when trading securities.
2⃣ Order Competition

This rule would req a segment of the equity mkts—mktable orders of individual investors—to be exposed to comp in fair & open auctions. It would promote competition for the orders of individual investors, to the benefit of these investors & our capital mkts.
Read 6 tweets
Gary Gensler Profile picture
Mar 16, 2023
Yesterday, we @SECGov proposed rule amendments and requirements on a few matters.

A thread 🧵⬇️
1⃣ We proposed amendments to require covered firms to notify their customers of data breaches. I support this b/c, through making critical updates to a rule first adopted in 2000, this proposal would help protect the privacy of customers’ financial data.

sec.gov/news/statement…
2⃣ We proposed cybersecurity requirements for broker-dealers, clearinghouses, and other market entities. I support this proposal because, if adopted, it would set standards for these market entities’ cybersecurity practices.

sec.gov/news/statement…
Read 5 tweets

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