SEC chair hints at greater regulatory oversight for US crypto exchanges
Gary Gensler said a regulatory framework for digital assets from the SEC or CFTC "could instill great confidence" for investors. Recently confirmed U.S. Securities and Exchange Commission chair Gary Gensler punted to congress on providing more regulatory oversight to the crypto space, but also said the commission would act within its purview. In a virtual hearing held by the House Financial Services Committee today, North Carolina Representative Patrick McHenry asked Gensler what the regulatory body would be doing to ensure a “vibrant digital asset marketplace with legitimate money and the....
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Last week's poll looked into a topic that has had the bitcoin community pulling in either direction. The question we asked: Do you think bitcoin exchanges require regulatory oversight? In total, the poll received 157 votes (which is better than the week prior, but we'd love to get more participation in the coming weeks). When all was said and done, 92 of the 157 voters (or about 58.6 percent) of respondents say that they think bitcoin exchanges should not be overseen by regulatory agencies. As you can imagine, the other 41.4 percent (or 65 respondents) said that they do think that bitcoin....
The U.S. Securities and Exchange Commission (SEC) Chair, Gary Gensler, said Congress needs new regulatory frameworks for crypto exchanges. At present, no single agency is directly responsible for them, leading to an incoherent regulatory approach. A possible solution lies in the formation of a new agency to oversee crypto exchanges directly. Alternatively, an existing agency […]
The New York State Department of Financial Services (NYDFS) announced on Tuesday that they would be begin considering proposals and applications for the establishment of bitcoin exchanges in the State. Such establishments would, of course, be subject to regulation. But more importantly, serve to pave the way to efficient (yet effective) oversight of such financial institutions in the nation's third-most populous state. "Firms may immediately submit formal proposals and applications to operate virtual currency exchanges in order to help expedite the process of putting in place greater....
Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more a week on Cointelegraph in one link.Top Stories This WeekRussia to decide between blanket crypto ban and legalizing exchanges in 2022 A recent report shows that Russia could potentially see a countrywide ban on cryptocurrency. Alternatively, its possible that crypto trading via regulated exchanges may continue under strict oversight.On the one hand, Russias central bank....
The SEC's incoming chair predicted the crackdown on crypto exchanges over AML concerns back in 2018. See what other insight he had. This is the second in a three-part series based on Gary Gensler's extensive prior public statements on crypto. Here is part 1. A link to part 3 will appear here when it is published. Gary Gensler will likely become chairman for the U.S. Securities and Exchange Commission, or SEC, in the coming days. A professor at the Massachusetts Institute of Technology, or MIT, Gensler knows his way around crypto and blockchain, evident in his leadership of a class on the....