SEC Chairman Gary Gensler has intensified his critique of the cryptocurrency industry, labeling it a 'grift-fest' rife with 'hucksters' and fraudsters. In recent statements, Gensler emphasized the need for stricter SEC rules, citing billions of dollars lost due to non-compliance. He reiterated that Bitcoin is not considered a security, a stance that has caused some market reactions. Joe Kernen tried to get Gensler to admit differences between Bitcoin and other cryptocurrencies. Gensler also faced criticism for his handling of regulatory measures, including dodging questions about Ethereum's classification and being grilled on CNBC. Despite the backlash, Gensler maintains that the industry cannot thrive without proper investor and consumer protections. DOGE creator Billy Markus argued that DOGE should be classified similarly to Bitcoin, given its similar code and operation.