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The U.S. SEC currently wields significant power in the securities field, with certain cryptocurrencies falling within our jurisdiction. However, in other areas, particularly in the realm of large exchanges handling Bitcoin transactions, the public is not currently afforded adequate protection.
According to foreign media reports, this represents Gary Gensler's clearest commentary to date on 'cryptocurrency regulation.' Over the past few months, market observers have speculated that Gary Gensler, who previously taught a course on digital assets at MIT, would adopt a more lenient stance on cryptocurrency following his appointment as the head of the U.S. SEC.
However, Gary Gensler contends that if the U.S. SEC and CFTC can offer better investor protection policies, the cryptocurrency market will benefit significantly. He adds that only the U.S. Congress currently has the authority to address these regulatory issues, rather than allowing the U.S. SEC under his leadership to exceed its jurisdiction. He further notes that there is currently no regulatory framework for cryptocurrency exchanges within both the U.S. SEC and our sister organization, the U.S. CFTC. This lack may instill significant confidence if investor protection legislation is enacted. Presently, there are no market regulators around these cryptocurrency exchanges, resulting in a lack of safeguards against cryptocurrency fraud and manipulation.
However, during the meeting, Gary Gensler did not mention whether the U.S. SEC intends to approve a Bitcoin ETF, which is currently the most closely watched issue in the cryptocurrency market. |
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Post time 29-12-2023 22:01:37