Former US SEC Chair Gary Gensler defended his record on crypto enforcement in a television interview this week, saying he was “proud” of actions taken while he led the agency and repeating that, aside from Bitcoin, most crypto tokens lack clear fundamentals.

Gensler pushed back against critics who say his approach blocked innovation, and he framed his enforcement work as aimed at protecting everyday investors.

Gensler Stood By Enforcement Record

According to his interview on CNBC’s “Squawk Box,” Gensler argued that many crypto tokens trade on hype more than on underlying business metrics, and he used rough figures to note there are “5 or 10 thousand” such tokens in circulation.

His comments echoed past statements that a large share of crypto tokens should be treated under securiti

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