According to reports, the chairman of the US Securities and Exchange Commission Gary Gensler is keen on open-line supervision of the country’s encryption field.
Gensler expressed in Bloomberg that the U.S. Securities and Exchange Commission hopes to provide protection measures for U.S. cryptocurrency investors interview, Said: “If someone wants to speculate, that is their choice, but as a country, we have a responsibility to protect these investors from fraud.”
The chairman of the SEC identified seven encryption-related policy changes that the committee is currently reviewing. These include issues related to token issuance, decentralized finance (DeFi) and stablecoins. Gensler SEC’s other focus is on custody, exchange-traded funds (ETF) and lending platforms.
According to Gensler, crypto trading regulations may be the most direct way to implement the SEC’s oversight of crypto trading. However, such legal policies may also include decentralized exchanges and other DeFi participants.
Gensler also confirmed that the crypto loan market has received the attention of the SEC. In fact, as Cointelegraph previously reported, A series of national regulatory actions against crypto lending giant BlockFi May be a A weather vane for the SEC’s future actions In market segments.
For Gensler, the interest rate advertising aspects of these companies and the pooling of digital assets to provide returns are the entry point for the SEC to implement regulations similar to those for mutual funds.
Although Gensler is indeed keen to introduce regulatory clarity to the U.S. crypto market, it is reported that these measures are not currently on the SEC’s agenda.
Since the committee has nearly 50 policy issues that are not related to cryptocurrency, cryptocurrency regulations may currently be in a secondary position.In fact, due to environmental, social and corporate governance and meme stock issues, some market commentators said Bitcoin ETF in 2021 is unlikely.
At the same time, members of Congress, including Senator Elizabeth Warren, continue to push for stricter cryptocurrency regulation.