A new onslaught against the cryptocurrency market began to brew within a conference on Blockchain and money, in the mentioned activity the chairman of the U.S. Securities and Exchange Commission Gary Gensler fired against cryptocurrencies, in this post I will try to share some approaches on what the controversial Gensler said.
In an article reported by Brian Quarmby in Cointelegraph, it is highlighted that the chairman of the US securities regulator has once again lashed out against the cryptocurrency sector by claiming that many cryptocurrency platforms violate securities laws.
These darts launched by Gary Gensler should not come as a surprise, remember that on other occasions he has openly criticized the cryptocurrency market, and even though on this occasion he focuses on the issue of legislation, we know that the objective is to annihilate the progress that cryptocurrencies have been making in this convulsive scenario created by the FED.
Gensler has described cryptoassets as "investment contracts" before asking platforms offering these products to register with the SEC to protect US investors.
Additionally, he added that cryptocurrency markets suffer from a lack of regulatory compliance, clarifying that it is not a lack of regulatory clarity, stating that The law is clear, whether you are an exchange, a clearing house, a broker or a dealer, you still have to comply and register with the SEC.
In Gensler's opinion, many cryptocurrency companies and platforms violate securities legislation if they are not registered with the SEC, now, from my perspective it is clear that this new onslaught has a clear objective, which is nothing more than to create panic and demotivation, considering that the market is in full recovery.
SOURCES CONSULTED
Cointelegraph SEC's Gary Gensler takes another swipe at crypto in educational video. Link
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