SEC Chair wants robust crypto regulatory regime for the US
America’s securities chief has crypto regulatory ambitions beyond ETFs and token offerings, which include markets like lending and DeFi. Gary Gensler, chairman of the United States Securities and Exchange Commission, is reportedly keen on bright-line regulations for the country’s crypto space.Gensler expressed the SEC’s desire to install safeguards for crypto investors in the U.S. in a Bloomberg interview, stating, “If somebody wants to speculate, that’s their choice, but we have a role as a nation to protect those investors against fraud.”The SEC chairman identified seven crypto-related....
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"There’s no reason to treat the crypto market differently just because different technology is used," said Gary Gensler. Gary Gensler, chair of the United States Securities and Exchange Commission, said the agency’s protections that apply to investors of traditional assets should extend to those in the crypto market.In prepared remarks released Monday for the Penn Law Capital Markets Association Annual Conference, Gensler said he had requested SEC staff to explore getting crypto platforms registered, having them subject to the same regulatory framework as exchanges. In addition, the SEC....
The Financial Stability Board (FSB) says it is working on a “robust” regulatory framework for crypto assets and will report its recommendations to the G20 finance ministers and central bank governors in October.
FSB to Present Robust Crypto Regulatory Framework to G20 in October
The Financial Stability Board (FSB), an international body that monitors and makes recommendations about the global financial system, released a statement Monday on the “international regulation and supervision of crypto asset activities.”
The G20 watchdog stated....
The Hong Kong Monetary Authority shared a list of eight questions to seek policy-related recommendations citing five possible regulatory outcomes — no action, opt-in regime, risk-based regime, catch-all regime and blanket ban. Hong Kong's central banking institution, the Hong Kong Monetary Authority (HKMA), released a questionnaire to gauge public opinion on regulations for crypto-assets and stablecoins. The state-backed regulator intends to establish a regulatory framework by 2023-24.HKMA’s “Discussion Paper on Crypto-assets and Stablecoins” highlights the explosive growth of the....
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, says that cryptocurrency “is not going to end well if it stays outside the regulatory space.” The SEC has been criticized for taking an enforcement-centric approach to regulating the crypto industry.
SEC Chair Says Crypto Will Not End Well Staying Outside Regulations
SEC Chairman Gary Gensler talked about cryptocurrency regulation Monday during an interview with former federal prosecutor Preet Bharara at Code Conference in Beverly Hills, California.
He explained that the....
Federal Reserve Chairman Jerome Powell says the central bank is “not really seeing significant macroeconomic implications” from crypto’s volatility. The Fed chair stressed that there is a need for a better crypto regulatory framework. Fed Chair Powell Says Crypto Needs Better Regulation Federal Reserve Chairman Jerome Powell testified before the Senate Committee on Banking, Housing, and Urban Affairs on “the semiannual monetary policy report to congress” Wednesday. Senator Kyrsten Sinema (D-AZ) asked him whether the Fed has been tracking crypto....