Gary Gensler, the head of the Securities and Exchange Commission (SEC), believes that journalists are placing too much emphasis on the cryptocurrency market.

During a recent interview with CNBC, Gensler expressed his frustration with the interviewer for continuously raising questions specifically related to the crypto industry. Despite crypto's market capitalization reaching $2.3 trillion, Gensler highlighted that this is a fraction of the traditional capital markets valued at $110 trillion.

Gensler argued that the media's heightened interest in crypto is disproportionate to its overall impact in comparison to scams and issues in the broader financial market. As journalists persistently inquire about crypto during interviews, Gensler emphasized the significance of focusing on the vast capital markets.

While the interviewer addressed various crypto-related topics like the classification of Ether as a security and the SEC's actions against platforms like Robinhood, Gensler's responses were indirect, suggesting that many crypto tokens could be categorized as securities under the law.

Over the past year and a half, the SEC has been actively involved in legal actions against major crypto players with connections to the US, including exchanges such as Binance and Coinbase, as well as stablecoin issuers like Paxos. The SEC's increased enforcement actions in the digital asset space have led some companies to initiate legal action proactively to avoid potential conflicts with regulations.

Despite his critical stance on aspects of the crypto market, Gensler has been vocal about his opinions regarding cryptocurrencies, even questioning the centralization of Bitcoin. His recent approval of Bitcoin spot ETFs received mixed reactions, with Gensler stating that the SEC's approval did not equate to endorsing Bitcoin as an asset.