• Fri. Jul 12th, 2024

Will Government Play a Role in Crypto Regulation – Let’s Find Out



Aug 10, 2021

Silicon Valley and Wall Street have made it a parlor game to determine what the United States Securities and Exchange Commission chairman thinks about crypto. A large number of lobbyists have been tuning in to see whenever he plans to testify in front of congress.

What’s more, the Goldman Sachs Group, posted in a report regarding a search for clues during the past twenty-nine hours regarding the money and blockchain course developed by Gary recently. For those who don’t know, Gary developed this course at the Institute of Technology based in Massachusetts.

While many believe that it was an arduous act, they still think that this undertaking was not as novel as people believe. This is mainly because a large number of these videos gained millions upon millions of views. Gensler, when he gave his first-ever lengthy interview, claimed that the craze for digital money is most definitely sky-high. He also believes that this is just the beginning and that more people will catch on to this craze down the line.

Believe it or not, a large number of policymakers struggled to understand how to offer a response to this multi-trillion Dollar market for a long while. As most of you may be aware, this market experienced tremendous growth along with loads and loads of swings in prices.

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Gensler has been giving deep thought to bringing about a regime that would establish safety for thousands, if not millions of people who invest in crypto. While Gensler still believes in being on the neutral side of things as far as technology is concerned, he still is not neutral towards protecting the investors.

During an interview, he stated that if people prefer to make speculations, it is ultimately their choice. However, all of us have a responsibility to safeguard each and every investor against things like fraudulent activities.

Gensler even requested congress to establish a law for offering agencies the authority to check crypto exchanges and monitor them on a regular basis. He went on to claim that there has been a fair bit of discussion regarding the types of digital assets that fell under the purview of the Securities and Exchange Commission.

In some cases, things like Bitcoin, which are often similar to currencies, tend to be thought of as commodities rather than securities. However, there are loads and loads of coins that are not registered and should comply with the rules laid out by the Securities and Exchange Commission.


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