Aug 04, 2021 11:35:00

New Regulatory Secretary Calls for 'Expansion of Authority' to Tighten Cryptocurrency Regulations

Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC) in April 2021, called on Congress to expand its authority over the trading and lending of crypto assets and the platform itself. ..

Will Government Regulate Crypto? SEC Chair Gary Gensler on Bitcoin and Oversight --Bloomberg
https://www.bloomberg.com/news/articles/2021-08-03/will-government-regulate-crypto-sec-chair-gary-gensler-on-bitcoin-and-oversight

Crypto'Wild West' Needs Stronger Investor Protection, SEC Chief Says --WSJ
https://www.wsj.com/articles/sec-will-police-cryptocurrencies-to-maximum-possible-extent-chair-gary-gensler-says-11628007567

Let us regulate'wild west' of cryptocurrency, SEC chair urges | Cryptocurrencies | The Guardian
https://www.theguardian.com/technology/2021/aug/03/cryptocurrency-sec-regulation

SEC's Gensler: Crypto Market Filled With Unregistered Securities, Prices'Open to Manipulation' --Decrypt
https://decrypt.co/77574/gary-gensler-crypto-market-securities-aspen-institute

SEC chair calls for more power to regulate cryptocurrency --The Verge
https://www.theverge.com/2021/8/3/22608096/cryptocurrency-bitcoin-sec-gary-gensler-regulation

At the Aspen Security Forum , a symposium on foreign policy and security hosted by the Aspen Institute in the United States on August 3, 2021, Gary Gensler said, 'For now, investing in crypto assets. Home protection isn't enough. Frankly, it's like the western pioneer era at this point, 'he said, recognizing that there is no order in the current crypto asset market.

In his speech, he argued that Chairman Gensler was needed to expand the authority of the SEC. 'We need additional authority to regulate transactions and lending, and to prevent the platform from evading the regulation,' said Gensler. 'When stable coins are used on these platforms, anti-money laundering, tax compliance and sanctions Many public policy goals related to existing banking and financial systems, such as, could be circumvented, 'he appealed to Congress for increased authority.

by Third Way Think Tank

Chairman Gensler is so knowledgeable about crypto assets that he has lectured on crypto assets as a professor of economics at the Massachusetts Institute of Technology. The lecture at this forum also focused on crypto assets. If left unchecked, prices will be manipulated, leaving the possibility of damage to investors. '' Cryptocurrency assets are fraudulent and misused for certain purposes, 'he said. He said that urgent regulation development is required.

Elizabeth Warren, a prominent Democratic lawmaker in the field of commercial law, told the SEC in a letter to Chairman Gensler in July 2021 that crypto assets were 'very opaque and unstable.' Requested to take control of the crypto asset market. Rep. Don Bayer also submitted the Investor Protection Act on Digital Assets at the end of July, and there are moves to tighten regulations on crypto assets in the United States.