Ključne točke:
- SEC Chair Gensler believes that most crypto tokens are securities and must be regulated by the SEC.
- He emphasizes that the crypto markets should not harm investors or undermine public trust in the capital markets.
- Ongoing lawsuits against Coinbase and Binance reflect Gensler’s strong stance on crypto regulation.
SEC Chair Gary Gensler has publicly shared his views on cryptocurrencies and the frenzy surrounding them many times. However, his latest speech at the Piper Sandler Global Exchange and FinTech Conference in New York City has put a spotlight on his strong stance on the matter.
Gensler has doubled down on his opinion that most crypto tokens are securities and come under the purview of the SEC. He believes that the current crypto frenzy is reminiscent of what the US experienced in the 1920s before federal securities laws were put in place. Gensler also criticized exchanges that list such tokens, saying they must register with the regulatory agency.
Gensler emphasized that the crypto securities markets should not be allowed to undermine the public’s trust in the capital markets. He stated that the well-earned trust that the public has in the capital markets should not be undermined by such markets. He also added that the crypto markets should not be allowed to harm investors, which is a clear indication of his stance on the matter.
Gensler’s strong stance on crypto is also reflected in the ongoing lawsuits against Coinbase and Binance. The SEC alleges that both companies have unlawfully offered securities intermediation functions without registering them with the regulatory agency and have commingled assets.
During the conference, Gensler spoke out against those in the crypto industry who claim that the SEC has not defined what is and is not a security, stating that market participants who say they lacked fair notice that their conduct could be illegal have made a calculated economic decision to take the risk of enforcement as the cost of doing business.
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Coincu Vijesti
Source: https://news.coincu.com/193410-sec-chair-gary-gensler-warns-crypto-frenzy/