The SEC’s crypto crackdown is just getting started, says Gary Gensler

2022-12-23 13:55

The SEC wants to increase its oversight of the cryptocurrency market following FTX’s collapse.

Gensler wants crypto issuers and exchanges to comply with regulations in the US.

Crypto experts continue to call for promotive regulation of the industry.

The SEC will increase its oversight of the industry

The chairman of the United States Securities and Exchange Commission (SEC) revealed in an interview on Thursday that the agency will increase its oversight of the crypto industry.

According to Gary Gensler, the SEC’s crypto clampdown is just getting started, and the agency wants to ensure that firms comply with existing securities laws. 

The SEC chairman believes that the existing crypto rules are adequate, but issuers and exchanges need to ensure compliance. The Chairman of the financial regulator added that those existing rules are adequate for cryptocurrency firms. He said;

“Financial history would tell you that most of these tokens [native tokens of crypto exchanges] will fail. [Insiders] sell the public on an idea while they’re potentially fraudulently pumping up the stock. This leads to distorted incentives and puts the public further at risk of the token not being properly registered and having proper disclosures and complying with the various provisions of the securities law about anti-fraud and anti-manipulation.”

The SEC chair added that the pending charges against FTX set an example for the broader crypto community about the need to have operations compliant with the current securities laws. 

He added that FTX’s collapse poses a warning to crypto issuers and exchanges that are not registered with the SEC. 

Crypto experts want market regulation

This latest development comes a few days after Gensler told the U.S. Treasury Department’s Financial Stability Oversight Council (FSOC) that it is crucial to regulate crypto companies.

Experts in the industry are already calling for regulations that would protect consumers but don’t eliminate innovation.

Binance CEO CZ said the cryptocurrency industry needs clear and stable regulations. Ron Kruszewski, the CEO of Stifel Financial, also called on the SEC to extend its customer protection to crypto. 

The post The SEC’s crypto crackdown is just getting started, says Gary Gensler appeared first on CoinJournal.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0.0095806 (+7.58%)
Объем 24H $0
Изменеия 24h: 2.35 %, 7d: -7.78 %
Cегодня L: $0.0086651 - H: $0.0095806
Капитализация $183.154k Rank 1690
Доступно / Всего 19.117m EMD / 32m EMD

crypto wants gensler sec regulations industry comply

Источник: coinjournal.net

crypto wants → Результатов: 126


Crypto Exchange Gemini Makes an Aggressive Move, Adds 15 Hot DeFi Tokens

DeFi is all the rage in today's crypto world, and no one wants to be left behind, especially cryptocurrency exchanges. Over the past few months, we saw these exchanges rushing to DeFi space – in the fastest ever listing of these tokens, a complete U-turn from the past few years when crypto projects had to […] The post Crypto Exchange Gemini Makes an Aggressive Move, Adds 15 Hot DeFi Tokens first appeared on BitcoinExchangeGuide.

2020-9-27 16:33


Фото:

Barstool Sports Founder David Portnoy Now Wants to “Save” Bitcoin and Crypto

High-flying social influencer and one-time crypto trader David Portnoy said he would “save” the crypto market in a tweet this week – but only if asked “nicely. ” Saving Bitcoin The founder of sports blog Barstool Sports, Portnoy entered the crypto market in high spirits earlier this month aiming to turn a hit profit in theRead MoreRead More.

2020-8-27 23:00


Фото:

Grayscale Investments Files Form 10 with US SEC for Its Ethereum Trust

The Grayscale Ethereum (ETH) Trust has filed to become a US Securities and Exchange Commission (SEC) firm. This, according to a recent filing made with the US financial regulator. Grayscale ETH Trust Wants to Become an SEC Reporting Company Grayscale Investment, the world’s largest crypto asset fund manager recently filed with the US financial watchdogRead MoreRead More.

2020-8-7 22:07


Фото:

Fueling the Cannabis Industry: US Crypto Lending Service Files for Regulated Token Sale

Chicago-based lending firm Ceres recently filed for a request to conduct a Reg. A sale in order to get approval from the U.S. Securities and Exchange Commission (SEC). Ceres wants to launch a token that will be used for garnering equity, while the company also wants to launch a coin that can be used to […] The post Fueling the Cannabis Industry: US Crypto Lending Service Files for Regulated Token Sale appeared first on Bitcoin News.

2020-7-11 04:30


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Jack Dorsey predicts Bitcoin will reach $1 million by 2030 amid regulatory challenges

Twitter co-founder Jack Dorsey has projected that Bitcoin’s value could soar to at least $1 million by the year 2030. In a recent interview with journalist Mike Solana on Pirate Wires, Dorsey shared his bullish outlook for the cryptocurrency, suggesting that it might even surpass this milestone within the next decade. This statement comes as […]

KangaMoon price prediction after Pompliano’s bullish remarks on Bitcoin

The sell-off in Bitcoin following the halving event was not unexpected, says Anthony Pompliano. He’s the founder of Pomp Investments.  What Pompliano said in a CNBC interview BTC now has its 200-day MA at a record high despite recent volatility which suggests the world’s largest cryptocurrency “continues to trend upwards over the long run”, he […]