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Заголовок SEC’s Gary Gensler: Nothing Inconsistent About Crypto Securities and Securities Laws
Дата 20240626

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SEC s Gary Gensler: Nothing Inconsistent About Crypto Securities and
Securities Laws

In an interview at the Bloomberg Invest Summit 2024, Gary Gensler, the
Chairman of the US Securities and Exchange Commission (SEC), outlined his
stance on crypto regulation.

He noted that many entities within the crypto space do not adhere to these
laws. This poses significant risks to investors and the broader financial
system
.

SEC’s Gary Gensler Highlights ‘False Decentralization’ in Crypto Platforms

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Gensler emphasized the need for strict adherence to existing US securities law
, the Securities Act of 1933, within the crypto industry. According to him,
the securities laws are designed to safeguard investors and maintain fair,
orderly, and efficient markets.

“And we have a set of rules that are pretty clear. There s nothing
inconsistent about crypto securities and the securities laws,” he stated .

Read more: Who Is Gary Gensler? Everything To Know About the SEC Chairman

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Gensler highlighted compliance issues within the crypto industry. He noted
that many tokens and platforms fail to adhere to securities laws , thereby not
providing necessary disclosures to investors. He sees this lack of compliance
poses risks to the public.

Furthermore, he emphasized that moving operations abroad does not excuse
crypto companies from following US securities laws. Gensler stressed the
importance of proper disclosure and compliance regardless of location.

If they re really telling the truth about it, and they re making
the disclosures and properly registered, and then if the intermediaries are
operating within the law without the conflicts,” he said.

Additionally, Gensler pointed out the false decentralization of many
platforms. He opines these platforms are actually highly centralized and
operate with conflicts of interest.

“The law doesn t allow you to be trading against your customers and
operating a so-called exchange, and trading in front, and possibly also taking
investments in an investment contract or security , and then listing and
getting the listing pop,” he outlined.

Gensler’s stance on implementing securities law in the crypto industry is
intriguing, especially considering the calls from prominent figures in the
industry for regulatory clarity. For example, in May, Charles Hoskinson, the
co-founder of Ethereum (ETH• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum) and Cardano• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Cardano (ADA), described the idea of
regulating crypto under current securities law as absurd.
Hoskinson s comments reflect a broader industry discussion regarding the
suitability of existing securities laws for cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта characteristics.

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Cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта can be commodities, securities, currencies, loyalty points,
non-fungible tokens. All at the same time. So, how do you do these asset
regulations when things can move on daily, weekly, monthly basis? In fact,
circumstances can change over time,” Hoskinson explained .

During the interview, Gensler also clarified the SEC s stance on crypto
exchange-traded funds (ETFs). The approval of spot exchange-traded products is
a more recent development. These products provide the investing public with
regulated options for crypto investment, contrasting with non-compliant
platforms where most crypto trading occurs.

Read more: Crypto Regulation: What Are the Benefits and Drawbacks?

Additionally, he discussed the approval of spot Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum ETFs . Gensler
emphasized that the approval process involves rigorous scrutiny to ensure they
comply with all regulatory requirements, providing a safer investment option
for the public.

“I don t know the timing, but it s going smoothly, and it s
really about the asset managers making the full disclosure so that those
registration statements can go effective and those lawyers know what that is,”
he said.

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============= Итог: 2,3320 ; Экономика#Финансы#Платежные средства#Платежные системы интернета #Криптовалюта#Ethereum 2,3320 ; Экономика#Финансы#Платежные средства#Платежные системы интернета #Криптовалюта#Cardano


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