SEC’s Paul Akins Torches Gensler Approach: ’Regulatory Overreach Is Choking Crypto’s Future’
In a blistering critique that sent shockwaves through the crypto sphere, SEC Commissioner Paul Akins accused Chair Gary Gensler of strangling blockchain innovation with what he called ’regulation by enforcement.’
The 3pm press conference saw Akins brandishing a printout of Coinbase’s stock chart—conveniently omitting its 2023 collapse—while declaring: ’We’re regulating the future with Depression-era playbooks.’
Insiders whisper this marks the opening salvo in a bureaucratic civil war, with the SEC’s crypto division now openly divided. Meanwhile in Congress, staffers scramble to redraft legislation that somehow pleases both Silicon Valley VCs and the ’not your keys, not your coins’ Bitcoin maxis.
One thing’s clear: Wall Street’s old guard still can’t decide whether to regulate crypto into oblivion or quietly accumulate bags while retail gets rekt.
