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.”


Get the news in your inbox. Explore Blockworks newsletters:

  • Blockworks Daily: The newsletter that helps thousands of investors understand crypto and the markets, by Byron Gilliam.
  • Empire: Start your morning with the top news and analysis to inform your day in crypto.
  • Forward Guidance: Reporting and analysis on the growing intersection of crypto and macroeconomics, policy and finance.
  • 0xResearch: Alpha directly in your inbox. Market highlights, data, degen trade ideas, governance updates, token performance and more.
  • Lightspeed: Built for Solana investors, developers and community members. The latest from one of crypto’s hottest networks.
  • The Drop: For crypto collectors and traders, covering apps, games, memes and more.
Tags

Upcoming Events

Industry City | 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 (5).png

Research

Outside of stablecoins, the value of tokenized assets sits below $20B, dominated by the following asset classes: private credit, US Treasuries, commodities, institutional alternative funds, stocks, non-US government debt, and corporate bonds. In the coming months, we see the greatest opportunities in the tokenization of illiquid markets, particularly private equity. However, the successful integration of offchain assets into blockchain ecosystems relies heavily on clear and consistent regulatory frameworks, with purpose-built infrastructure to support it.

article-image

Ethena and Securitize’s Converge will launch within the next three months

article-image

Sponsored

Ledn has positioned itself as a trusted CeFi leader in Bitcoin-backed lending

article-image

Yesterday marked the five-year anniversary of Solana’s genesis block

article-image

The Digital Asset Summit will feature TradFi and government reps speaking on broader adoption and who’s buying in

article-image

Indicators like the volatility index and S&P 500 show that we’re not in crisis territory…yet

article-image

Razer ID verified by World ID is designed to prevent bots from entering games and swiping rewards