Forget crypto — Gensler says AI is the ‘transformative technology of our times’

SEC Chair Gary Gensler advises the press and public to focus on the transformative powers of artificial intelligence, not crypto

article-image

SEC Chair Gary Gensler | Source: Third Way Think Tank "Gary Gensler" (CC license)

share

Despite being a long way from a total win, the SEC appears happy with the outcome of the Ripple case so far.

That’s according to agency Chair Gary Gensler, who earlier today addressed last week’s market-driving ruling during an appearance at the National Press Club.

“This is a recent decision just a handful of days ago,” Gensler said during the speech. “We’re pleased from that decision recognizing the importance of protecting investors on the institutional investors…and while disappointed on what they said about retail investors, we’re still looking at it and assessing that opinion.”

Gensler’s remarks come days after US District Judge Analisa Torres handed down a partial summary judgment in the SEC’s lawsuit against Ripple. In a partial win for the agency, the court ruled that while Ripple’s institutional sales of XRP constitute an unregistered securities offering, programmatic sales via exchanges do not. 

The judge did not address several other issues in the case, and it’s not the final verdict. Torres wrote in her ruling that the court will schedule a trial to deal with the issues not answered in the summary judgment. That said, it’s possible Ripple and the SEC reach a settlement and avoid a trial. Legal experts say the SEC may also seek an appeal of last week’s decision. 

Read more: Exchanges rush to relist XRP, but an SEC appeal is possible

Gensler’s remarks largely echo what the SEC said last week. In a statement released after Torres’ ruling hit the docket, the agency told Blockworks it was “pleased” that the court found that “XRP tokens were offered and sold by Ripple as investment contracts in violation of the securities laws in certain circumstances.”

Gensler’s talk Monday was focused on the rise of artificial intelligence and securities regulation, but attendees were eager to shift the conversation to crypto during the question-and-answer portion of the appearance — a trend Gensler said confounded him. 

“I was so honored to go up to MIT in 2018 and get involved at the intersection of finance and technology, and I was honored to do that with these remarkable scientists and technologists and students and staff at MIT,” Gensler said, referring to the course he taught on blockchain tech at the university

“In 2018, and in 2023, I found it fascinating this focus on digital currencies and crypto by the press, with all respect, and even the retail investing public in contrast to artificial intelligence,” he added. “I for one I’ve already stated here clearly I think artificial intelligence is the transformative technology of our times.”


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the Forward Guidance newsletter.

Get alpha directly in your inbox with the 0xResearch newsletter — market highlights, charts, degen trade ideas, governance updates, and more.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates (15).png

Research

A spot listing on Binance can support highly favorable short term returns. Tokens that TGE on Binance exhibit lower short term returns when compared to tokens that receive the listing after TGE. Both spot and futures listings support higher returns, while a spot listing is historically more favorable. Tokens that have yet to receive a Binance spot listing may be trading at a 30-50% discount to their market value upon receiving a Binance spot listing.

article-image

Maple’s Sid Powell said that TradFi firms have been in contact with the firm about lending and borrowing in crypto

article-image

Building onchain public goods is noble but they don’t always make the number go up

article-image

Vector is a mobile social trading app with a built-in crypto wallet that lets users broadcast their trades to other users

article-image

Kraken Pay is only the latest product in the growing crypto payments landscape

article-image

One ex-SEC senior counsel doesn’t “expect an overnight response to this, [but] rather a slow rollout of approvals”

article-image

The unemployment rate has “stabilized” and the labor market is “solid,” officials said