SEC chairman Gary Gensler also included the topic of cryptocurrencies in the text he prepared for his speech at the US Financial Services and General Governance Subcommittee.
It seems that SEC Chairman Gary Gensler is aware of the rapid technological transformation occurring in the financial markets, including the emergence of cryptocurrencies.
He states that crypto markets are full of mismatch and highly speculative behavior, and investors are putting their hard-earned assets at risk.
Gensler underlines the need for new tools, expertise and resources to combat malicious behavior and ensure the resilience of critical market infrastructure. Overall, Gensler’s speech shows that the SEC takes cryptocurrency regulation seriously and sees it as an important area of focus for the institution going forward.
In recent speeches and interviews, SEC Chairman Gary Gensler explained his approach to regulating the rapidly growing crypto market. He expressed his admiration for the innovation of crypto assets and blockchain technology, as well as his concern for the protection of investors and markets.
Gensler argues that most cryptocurrencies are securities that fall under the jurisdiction of the SEC and must comply with current laws and regulations.
SEC Chairman Gary Gensler: Increasing technological innovations in financial markets, especially #cryptocurrency led to abuse in the field. Addressing this requires new tools, expertise and resources.
— Bitcoin System (@bitcoinsystem) March 29, 2023
*Not investment advice.
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