Gary gensler cryptocurrency

The 2 males got here from reverse sides of the spectrum. Bernanke, a lifetime of public service in training and authorities, earlier than transferring to the non-public sector as hedge fund advisor. Gensler, a multitalented Goldman Sachs veteran who discovered a better calling in authorities. Name them cryptocurrencies, name them crypto, name them tokens, name them digital belongings, name them DAOs, name them Web3 or Internet 3. Due to the printing of fiat cash and the depreciated worth, there might be a contest of monies, and bitcoin is a part of that competitors.

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Content:

• Clayton, Gensler behind looming over-regulated crypto disaster
• SEC Chair Gary Gensler on potential Crypto regulation: It's within the securities laws
• Bitcoin & Digital Asset Regulation: What To Anticipate (BTC-USD)
• Elizabeth Warren
• SEC’s Gensler Says Crypto ‘Fits in Our Broad Remit’: Report
• What Jim Cramer Likes About Gary Gensler's Approach to Cryptocurrency
• Whistleblowers can protect crypto and DeFi
• Gary Gensler and crypto regulation
• ‘Wild West’: Top US financial regulator seeks to rein in crypto

WATCH RELATED VIDEO: Ex-CFTC Chair Gensler Says Cryptocurrency Needs More Regulation Than Oil

Clayton, Gensler behind looming over-regulated crypto disaster

Gary Gensler and Jay Clayton spoke, took no questions, and agreed that the multi-trillion dollar crypto innovation space is a dark, menacing threat that legitimate crypto entrepreneurs must follow opaque rules or face crippling SEC lawsuits. Many in the audience of crypto industry leaders, just maligned as crooks, were stunned. Read the Full Article Here. Regulators on the left and right rarely agree on policy. Yet, when it comes to cryptocurrency, two men who have led the Securities and Exchange Commission are remarkably aligned: The technology and offerings may be new, but old rules still apply.

Jay Clayton, the Republican S. Trump, interviewed Gary Gensler, the current S. Clayton now advises crypto companies, and Mr. Gensler taught crypto classes as a professor at the Massachusetts Institute of Technology before joining the agency.

When Mr. Clayton asked his successor whether the S. The government should not be an obstacle to progress. The Democratic Party has long been a champion of inclusionary innovation, smoothing the disruption to families and workers while spreading the benefits as widely as possible throughout the economy. I fear, however, that with the fintech revolution rising through decentralized finance and blockchain technology, some in our party are mobilizing for a war on cryptocurrencies that could be futile and economically costly to the country.

There is wide agreement that regulation is needed for digital assets. No such luck. Many misread Gensler. His MIT perch conferred the appearance of academic expertise on blockchain.

It turns out there is little record of him writing or speaking about the technology until the school hired him in The Chinese Communist Party poses the most comprehensive 21st-century threat to the American nation, the American people and the American way of life. The first half of this century will be defined by how the U.

And an easily neglected aspect of our new great-power competition with our Far East arch-foe now cries out for diligent and prompt attention: safeguarding the fruits of the nascent, but ascendant, cryptocurrency revolution.

It also banned financial institutions and digital exchanges from facilitating domestic crypto transactions. What is unmistakable: his intention to shape regulatory policy for crypto that has increasingly become a disaster. Recent developments both domestically and abroad have finally catalyzed the Biden administration to take the long-delayed step of engaging on the many regulatory issues surrounding cryptocurrencies and blockchain technology. Unfortunately, the Treasury Department has decided to eschew such collaboration and go in a different direction.

They are instead leading a closed-door effort with the Biden-appointed heads of financial regulatory agencies to draft recommendations on how the administration should crack down on digital assets. A senior Republican has hit out at Gary Gensler, the chair of the Securities and Exchange Commission, over his attempts to regulate cryptocurrencies, as its defenders increase their opposition to several regulatory proposals.

If things go right, crypto and the blockchain technology could usher in the next Internet revolution. Things are now going terribly wrong. The US stands the very real chance of killing this business here by driving digital innovation overseas and ceding advancements to other countries including Communist China.

Because our regulators, mainly those at the Securities and Exchange Commission, are either too feckless or too turf-hungry or a combination of both to understand the dangers of their asinine approach to overseeing a nascent and important technology. The U. It tells the best, most innovative U.

Not even the highest-priced securities lawyers can tell these companies what compliance looks like with any certainty. Quite the contrary, they see Gensler as the danger they need protection from. Coinbase, the leading crypto exchange platform, went public earlier this year and subjected itself to the full SEC cavity search. He asked for guidance on why, and they refused to answer. A Wells notice followed, which is how the SEC warns you a lawsuit is coming.

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By Roslyn Layton. October 29, By Josh Hammer, Opinion Editor. October 21, By Charles Gasparino. October 17, New York Post. George Nethercutt R-Wash. October 16, The Hill. By Kiran Stacey and Stefania Palma. October 7, Financial Times. September 19, By Jared Whitley. September 16, Seeking Alpha. Older posts.

SEC Chair Gary Gensler on potential Crypto regulation: It's within the securities laws

Such a ridiculous statement, as noted by John Deaton, was eventually rejected by the court due to its complete absurdity. Slidebean It filed this case on December 22 in , meaning that its anniversary is fast approaching. Filan announced that the court had granted Ripple's motion to seal the privilege logs provided with itsA court case that has the future of XRP at stake continues after Ripple's motion to dismiss it was rejected by a court in California.

Bitcoin & Digital Asset Regulation: What To Anticipate (BTC-USD)

Gensler wants to regulate digital assets to the same extent as stocks, bonds and commodity-related trading instruments. Securities and Exchange Commission Chairman Gary Gensler this week declared war on what he called the Wild West of crypto trading, promising a vigorous attack on fraud and misconduct. But progress is likely to be more piecemeal and incremental than wholesale and sudden. Gensler outlined his desire to regulate digital assets such as bitcoin and other crypto products to the same extent as stocks, bonds and commodity-related trading instruments. He told the Aspen Security Forum on Tuesday that his priorities include newer innovations such as stablecoins and decentralized finance, products that are beginning to draw more mainstream investors. The impulse to regulate these markets is growing more evident around the globe. One of the biggest problems for Mr. Gensler has said Congress should create an investor-protection regime for bitcoin trading. But lawmakers tend to move slowly on financial-regulation overhauls, and typically write laws only after a crisis. That means Mr.

Elizabeth Warren

We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. To learn more or opt-out, read our Cookie Policy. Over the last few years, cryptocurrency tokens and platforms have flourished as US financial regulators have struggled to develop and apply to the new technology. Last December, the Financial Crimes Enforcement Network proposed new regulations to make it easier for the federal government to track Bitcoin transactions in one of the few moves to monitor the market. But while other securities markets are directly overseen by federal regulators, but there is no single regulator in charge of overseeing cryptocurrencies as a financial market.

SEC’s Gensler Says Crypto ‘Fits in Our Broad Remit’: Report

Coinbase had argued the product, called Lend, should not be considered a security under federal law. In recent months, Mr Gensler has urged cryptocurrency platforms to contact the SEC and discuss whether they should register with the agency. During the meeting, the commission voted in favour of a proposal to expand requirements on proxy vote disclosure for investment managers including mutual or exchange-traded funds. The SEC said the suggested amendments, including standardising proxy vote disclosure and reporting data in a machine-readable format, would help facilitate investor analysis. If ultimately approved, these measures would update a disclosure regime launched nearly two decades ago. Skip to navigation Skip to content Skip to footer Help using this website - Accessibility statement.

What Jim Cramer Likes About Gary Gensler's Approach to Cryptocurrency

Crypto exchanges could get some of the US regulatory certainty some want this year, after Gary Gensler hinted his staff are going all-out on making it happen. Gensler, the chair of the Securities and Exchange Commission, said Wednesday he hopes trading platforms will come to terms with being directly regulated to protect consumers. The move is aimed at protecting retail investors in cryptocurrencies , so they can get the same kind of protections that come with trading stocks, according to Gensler. Digital assets have become more accessible to regular investors because of the growth of easy-to-use exchanges. That soaring popularity has pushed crypto regulation to the top of the SEC's agenda, and a crackdown on digital assets is a key focus for it this year. Gensler has previously said the asset class is "rife" with fraud and scams.

Whistleblowers can protect crypto and DeFi

Proven frameworks and honest case studies from experienced entrepreneurs, helping early-stage tech founders go from idea to IPO. Blockchain will change everything. But how, when, and who will get it done are the questions we at Underscore VC get excited about!

Gary Gensler and crypto regulation

Expert insights, analysis and smart data help you cut through the noise to spot trends, risks and opportunities. Sign in. Accessibility help Skip to navigation Skip to content Skip to footer. Become an FT subscriber to read: SEC head Gary Gensler under fire over crypto regulation Leverage our market expertise Expert insights, analysis and smart data help you cut through the noise to spot trends, risks and opportunities.

‘Wild West’: Top US financial regulator seeks to rein in crypto

Gary Gensler, chair of the US Securities and Exchange Commission, said innovations around crypto and decentralised finance will not persist outside the public policy framework. Clayton agreed that investor protection is the touchstone but also said the technology has great promise in improving efficiencies. Gensler said he is technology neutral but not public policy neutral. He agreed that payments businesses, central banks and the private sector have started to think about payment systems differently due to the competition from decentralised bearer forms of value transfer. However, Clayton argued that regulators will find it difficult to oversee a decentralised system. Gensler said economics will drive the market owards some centrality.

He stated that the facts and circumstances in the crypto market suggest that a lot of crypto projects are securities. While declining to answer if Ethereum was a security or not, Gensler explained in general that any cryptocurrency project that was raising money from the public needed to bring itself under the U. Security Act. His response was similar when he was asked about the recent ConstitutionDAO project that tried to buy the constitution of the US by crowdfunding with crypto.