In a video interview aired on June 14, SEC Chairman Gary Gensler emphasized the “urgency” and “investor safety urgency” of properly regulating the industry and the current market downturn. I talked about. CFO Network Summit.
“Same kind of protection”
For a long time, the SEC has been at the forefront of crypto skepticism. According to Finbold, the head warned the general public in mid-May that some digital asset exchanges may be betting on their consumers.
Financial authorities, especially the U.S. Securities and Exchange Commission, are taking advantage of this scenario to tighten regulations on new asset classes as the crypto market continues to fall into one of the biggest negative slumps (SECs) in history. Claims to be necessary.
Meanwhile, the agency is currently involved in a proceedings in the spotlight against Ripple, claiming to have sold over $ 1.3 billion in unregistered XRP currency between 2013 and December 2020.
According to him, the agency wants to introduce “the same kind of protection” that investors have in the stock market but not in cryptocurrency exchange and lending-cryptocurrency lending platform Celsius temporarily all A reference to a recent scenario where withdrawals were stopped Cryptocurrency Exchange Binance did the same.
Gensler also discussed the recent actions of regulators against the crypto lending platform BlockFi, which accused it of issuing unregistered securities in exchange for users’ crypto deposits, while proposing variable interest payments. The accusation was withdrawn after agreeing to pay $ 100 million.
He also showed that the SEC is discussing registering under that authority with six sites, including crypto exchange. He explained it as follows:
“Cryptocurrency lending sites have a viable path.
The crypto trading platform looks into this and asks itself, “What do we do until those tokens are registered?” Currently, we are working on about 6 initiatives to register the crypto market. “
US lawmakers have questioned the SEC’s crypto attitude, including a letter to the agency in March disputing information gathering tactics regarding the crypto business.