Former SEC Chair and crypto antagonist Gary Gensler returns to MIT

Former SEC Chair Gary Gensler has resumed a role at MIT following his departure from the agency on pro-crypto President Trump’s Inauguration Day. 

Gensler will rejoin as Professor of the Practice in both the Global Economics and Management Group and the Finance Group with a focus on artificial intelligence, finance, financial technology and public policy, the MIT Sloan School of Management announced in a statement.

Gensler will also be co-director of the FinTechAI@CSAIL initiative within MIT’s Computer Science and Artificial Intelligence Laboratory to explore new AI technologies, opportunities, technical challenges, and applications within finance.

“I am honored to return to MIT, whose faculty, staff and students have long been at the cutting edge of research and technology,” Gensler said following his appointment. “I’m thrilled to once again collaborate with MIT’s distinguished team of scholars creating a better future for all through artificial intelligence, finance and technology.”

Crypto-friendly former regulator Paul Atkins is set to replace Gensler as permanent SEC Chair, having been nominated by President Trump. However, Republican Commissioner Mark Uyeda has taken temporary charge pending Atkins' approval by the U.S. Senate. Fellow Commissioner Hester Peirce is also set to lead new crypto task force .

Gensler’s contentious relationship with the crypto industry

While Gensler repeatedly stated he was "technology-neutral" during his tenure at the SEC, his enforcement-heavy approach was widely perceived as aggressive toward the crypto industry.

Under Gensler’s leadership, the SEC pursued lawsuits against Coinbase, Binance, Kraken, Ripple, and other major crypto firms, with the agency’s approach during that time criticized as "regulation by enforcement" rather than establishing clear rules of the road.

Gensler’s SEC rejected multiple spot Bitcoin exchange-traded fund applications for years before finally approving them in January 2024, but only after legal and political pressure mounted.

Gensler also repeatedly claimed that most crypto assets, except bitcoin, are unregistered securities, implying that almost all crypto projects are violating U.S. law, comparing the industry to the “Wild West.” He also urged crypto firms to "come in and register," yet failed to provide a clear framework for them to do so, according to critics.

However, Gensler taught on blockchain in his previous stint at MIT before joining the SEC and has acknowledged the potential of the technology. He argued that his approach to crypto as head of the regulator was to prioritize protecting investors rather than attacking the industry outright, and others believe his enforcement actions sought to target bad actors rather than crypto itself.

Teaching blockchain technology

Before becoming SEC Chair, Gary Gensler was a Professor of the Practice of Global Economics and Management at MIT, focusing on blockchain technology, digital assets and financial technology.

One of his most well-known courses, "Blockchain and Money,” covered Bitcoin, cryptocurrencies, blockchain technology, smart contracts and central bank digital currencies. It analyzed the potential use cases of blockchain in financial markets and global economies as well as the regulatory challenges of digital assets.

Gensler often spoke about Bitcoin’s decentralized nature and its role as a “modern form of digital gold” during that time.