Gensler: Oversight Aims to Build Trust in Crypto Industry

In an interview with CNBC, Gary Gensler, head of the U.S. Securities and Exchange Commission (SEC), stressed the importance of regulatory oversight in building trust in the digital currency industry. Key points from Gensler’s speech:

1. 1. The SEC’s regulatory actions are critical to promoting trust and investor protection.
2. 2. Dissatisfaction with existing laws does not mean there are no laws.
3. 3. He views Bitcoin (BTC) as a commodity, not a security.
4. 4. The approval of Bitcoin Exchange Traded Funds (ETFs) was an important step forward.
5. 5. The digital currency industry faces challenges in building trust.

 

Gensler declined to comment on the impact of the upcoming U.S. election on regulatory policy, but stressed the balance between investor protection and innovation.