The agenda of SEC Chair Gary Gensler faced a significant setback as the Fifth Circuit Court struck down $30 trillion private fund rules. Despite this, Wall Street’s top regulator remains committed to pushing for greater transparency from hedge funds and private equity firms regarding their fees. He stated that the SEC is still evaluating its next steps in this regard. Gensler also addressed the crypto sector, criticizing it for non-compliance and high centralization, while maintaining that crypto securities are consistent with existing securities laws. He emphasized that the SEC would adjust its strategies based on court rulings.