The head of SEC, Gary Gensler, wants to protect crypto investors in the United States.
The head of the Securities and Exchange Commission (SEC), Gary Gensler, is allegedly interested in clear laws for the country’s crypto industry. Gensler told Bloomberg in an interview that “If somebody wants to speculate, that’s their choice, but we have a role as a nation to protect those investors against fraud.” The SEC chairman disclosed that the agency is presently reviewing seven crypto-related regulatory changes.
More precise crypto rules, according to Gensler.
The Securities and Exchange Commission president has highlighted several crypto-policy measures that the agency is now considering. Among the subjects discussed are token offerings, decentralized finance (DeFi), and stablecoins. Other areas of focus for Gensler’s SEC include custody, exchange-traded funds (ETFs), and lending platforms. According to Gensler, crypto exchange rules may be the simplest way to obtain regulatory control over the crypto trading ecosystem. Decentralized exchanges, as well as other DeFi participants, may be affected by such legal rules. The crypto loan industry is also on the SEC’s radar, according to the chairman. In addition, financial regulators are actively working on crypto laws all around the world.
Massachusetts Senator Elizabeth Warren wants the US Treasury to regulate cryptocurrencies.
Senator Elizabeth Warren, a Democrat from Massachusetts, disclosed that she had written to Treasury Secretary Janet Yellen, pushing her to act with haste on cryptocurrency regulation during a Senate Banking Committee hearing. The Senator’s letter addressed the “dangers” presented by cryptocurrencies and requested that the Treasury Secretary act with urgency to address the risk as Chair of the Financial Stability Oversight Council (FSOC). Elizabeth Warren addressed cryptocurrency regulation, emphasizing the urgency and time limitations that such legislation entails, warning that the market may be stressed if action is not taken quickly.