Gary Gensler, Chairman of the Securities and Exchange Commission, has turned down requests from the cryptocurrency industry. Prominent names in the crypto industry have made statements that the SEC should stop making decisions.
In a statement Wednesday, the SEC chief said:
SEC Chairman Gensler:
“Together with my commissioners, we are implementing the law passed by Congress and the interpretations of the courts. Our job is to protect investing citizens and review the terms of each token or platform.”
Gary Gensler, into the crypto industry “fair” He denied the allegations of misconduct. The official emphasized that blockchain startups are well aware of their ethical responsibilities.
The Blockchain Association published an article last month advocating for the SEC to withdraw itself from crypto enforcement decisions. The crypto lobby argues that Gensler is malicious, referring to different statements he has made in the past. Allegedly, the head of the SEC had previously “Everything except Bitcoin can be a security” made his comment. This attitude of the state official leads to comments that he does not approach digital assets impartially.
Criticism of Crypto Exchanges from SEC Chairman!
Number one of the SEC stands out for its negative argument about cryptocurrency exchanges. Gensler claimed that crypto trading platforms provide conflicting services. Exchanges trade directly against the investor, according to the official.
The head of the Securities and Exchange Commission did not speak about the ETF filings. The world’s largest asset manager, BlackRock, recently applied for a commission for a spot Bitcoin fund. According to the available data, the SEC rejected only one of BlackRock’s regular applications, while not accepting any of the spot BTC funds.
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