Bitcoin (BTC) and known for its negative attitude towards cryptocurrencies SEC Chairman Gary Genslermade important statements about the crypto market in an interview with Yahoo Finance.
Gensler first evaluated the addition of cryptocurrency platform Celsius to companies that have filed for bankruptcy after being affected by the decline in cryptocurrencies.
Referring to the high interest returns offered to investors by crypto companies, Gensler said, “If it’s too good to be true, then maybe it is. There can be a lot of risk in those.” said.
“Bitcoin Different!”
The SEC chief sees Bitcoin as separate from other cryptocurrencies, and in this context also of BTC not as a security commodity said it should be considered.
Cryptocurrency Noting once again that regulations are necessary in the field, Gensler stated that the institution can use its executive power to regulate crypto.
stablecoins Speaking about the issue, Gary Gensler stated that stablecoins also need regulation.
“Dollar-backed cryptocurrencies, stablecoins, need protection against fraud and manipulation.
Because stablecoins are similar to money market funds because investors can earn returns by investing in such tokens.
It may be appropriate for Congress to weigh in to ensure financial stability.”
To the Chairman of the SEC, cryptocurrency When asked whether the vast majority of its units are unregistered securities, “If you are raising money from the public and the public is expecting profits based on the efforts of this joint venture, it is a security.” he replied.
Gensler also spoke in previous interviews. bitcoin and maybe Ethereum (ETH) He said that most cryptocurrencies, other than the coin, are subject to securities laws and must be registered as securities.