TL; Fault DR
- The new head of the SEC seems to be strongly anti-bitcoin.
- SEC’s new Chariman Gary Jensler is pushing the US Congress for more regulation.
- Jensler negotiators are controversial in the area of cryptocurrencies.
- After the interview with the media, the field of cryptocurrencies is expected to come under pressure.
The latest scandal in the field of cryptocurrencies, the new chairman of the Securities and Exchange Commission (SEC), Gary Gensler, is openly against the freedom of current regulations that the field of cryptocurrencies enjoys. In a recent media interview, the president said that although what he said was his personal opinion and not the official position of the SEC, he claimed that the current situation in the field of cryptocurrencies could be compared to the “Wild West”.
Just like previous government-sponsored reports, Jensler focuses on the downsides of bitcoin and the illegal use of cryptocurrencies as a whole. Jensler believes that the field of cryptocurrencies needs to be reformed, but the facts show that the illegal use of cryptocurrencies accounts for only 0.5% of all transactions.
The new head of the SEC wants new regulations
Gary Jensler called on the US Congress to increase its legal authority to ensure the protection of cryptocurrency investors a few days after his first media appearance, where he expressed his “opinion”.
Speaking at the Aspen Security Association, Jensler commented on the growing digital cryptography industry, saying that investors needed more protection. After spending three years at Blockchain at MIT, the new head of the SEC said he had a relatively neutral view of the technology, but was keen to support investors.
Speaking to the media, Gary Jensler said that while he is neutral on the technology, he has strongly supported investor support, declaring it a national goal to protect the interests of these investors.
In addition, it reports that the new SEC chairman, Jensler, has called on the US Congress to enact legislation that would give regulators the legal authority to oversee the exchange of encrypted assets. According to Jensler, most altcoins fall under the umbrella of “unregistered securities”, so they must be SEC compliant.
While the new head of the SEC, Jensler, praised the impact of the technology on the US economy, he reiterated his call for the government and its authority to say that the technology will only thrive if it is better adapted by the general public if It is a clear part of the government’s public policy and its goals.
He did not provide a specific timeline for action on assets encrypted by the SEC, but did allow Bitcoin tradable funds to eventually obtain a license.
This has now sparked a new debate in the field of cryptocurrencies about the clarity of regulations and other issues that the field will face following the COVID-19 epidemic. During the epidemic, the cryptocurrency sector had a unique position that, due to its digital nature, could help people to some extent, but it seems that the new SEC President Jensler now has the same situation, and that Under the SEC. Level of individual investors