During an interview with Bloomberg, Gensler admitted that he is intrigued by the cryptocurrency space, but that wouldn’t deter him from protecting US investors via enhanced regulations on the market.
- Being deeply familiar with the blockchain space, as he taught DLT classes at the Massachusetts Institute of Technology (MIT), Gensler was expected to have a straightforward approach when it comes down to regulating the industry when he took charge at the SEC earlier this year.
- So far, though, the Commission is yet to announce any precise rules, although speculations have run rampant in the past several weeks.
- Speaking to Bloomberg, Gensler admitted his affection to the market but said he will work towards enhanced investor protection from potential scams and fraudulent activities.
-
“While I’m neutral on the technology, even intrigued, I spend three years teaching it, leaning into it – I’m not neutral about investor protection. If somebody wants to speculate, that’s their choice, but we have a role as a nation to protect those investors against fraud.”
- Although he didn’t specify the precise nature of the potential legislation, the SEC’s Chairman said the crypto market needs to go under the jurisdiction of the Commission.
- He noted that Bitcoin falls under the commodity category, but almost all other altcoins are securities and must comply with the SEC’s rules.
- Gensler outlined concerns about several cryptocurrency areas, including decentralized finance (DeFi), stablecoins, and exchange-traded funds. Consequently, he promised that he has “asked the staff to use all of our authorities anywhere we can” in relation to those sectors.
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.
- &
- activities
- AI
- All
- Altcoins
- Bitcoin
- blockchain
- Bloomberg
- border
- BTC
- chairman
- charge
- code
- commission
- commodity
- content
- crypto
- Crypto Market
- cryptocurrency
- decentralized
- Decentralized Finance
- DeFi
- DLT
- Fees
- finance
- fraud
- Free
- funds
- Futures
- HTTPS
- Including
- industry
- Interview
- investor
- Investors
- IT
- Legislation
- Limited
- Market
- massachusetts
- Massachusetts Institute of technology
- MIT
- offer
- Other
- protect
- protection
- Reading
- regulations
- rules
- Run
- scams
- SEC
- Sectors
- Securities
- Share
- Space
- spend
- Sponsored
- Stablecoins
- Teaching
- Technology
- Trading
- us
- USDT
- Work
- year
- years
More from CryptoPotato
ETH Price Analysis: Ethereum Drops to $1.7K Support as Bears Fight Back
Source Node: 1345146
Time Stamp: Jun 7, 2022
Spot Bitcoin ETFs’ Momentum Stalls: Inflows Dip Despite Prior Surge
Source Node: 2496954
Time Stamp: Feb 26, 2024
Ethereum Classic Soars 55% Weekly, Bitcoin Stalls at $23K (Weekend Watch)
Source Node: 1589666
Time Stamp: Jul 23, 2022
Parcl Expands Its Real Estate Frontier: Launches Additional Tradable Indexes for Major US Cities
Source Node: 2134343
Time Stamp: Jun 15, 2023
Marathon’s 2023 Bitcoin Production Surpasses $563 Million, Tripling 2022 Output: Report
Source Node: 2430635
Time Stamp: Jan 6, 2024
Here Are Two Possible Scenarios for BTC After a Red Weekend (Bitcoin Price Analysis)
Source Node: 1204474
Time Stamp: Mar 8, 2022
Exverse Lands $3M in Private Round to Bring Web3’s ‘Call of Duty’ to Life
Source Node: 2481516
Time Stamp: Feb 15, 2024
The SEC is Angling to Take Authority Over All Ethereum Transactions in SPRK Suit (Opinion)
Source Node: 1679677
Time Stamp: Sep 22, 2022
Tinder Distances Itself From Metaverse After Dissapointing Results
Source Node: 1612383
Time Stamp: Aug 7, 2022
Bitcoin NFT Mania: There Are Now More Than 100K Ordinals Inscribed
Source Node: 1959345
Time Stamp: Feb 15, 2023