- Gensler mentioned that the SEC guards the crypto investors.
- Gensler remarked about the federal securities laws in the speech.
Gary Gensler, the chairperson of the United States Securities and Exchange Commission (U.S. SEC) remarked in the speech shared last Thursday, in Washington D.C. Now, Gensler has portrayed the needed protection in the crypto market as per the securities laws.
There's nothing about the crypto securities markets that suggests that investors & issuers are less deserving of the protections of our securities laws.
— Gary Gensler (@GaryGensler) June 12, 2023
Congress could have said in the 1930s that the securities laws applied only to stocks & bonds.
For more, read my remarks:
Concerning the issues that occur in the crypto market over these years, Gensler supported the investors at the Fintech conference. He mentioned that he preferred to put out the views of his own as the chairperson. Additionally, he meant that these concerns are not on behalf of fellow officials in the SEC.
In the speech, Gensler added:
“There is nothing about the crypto securities markets that suggests that investors and issuers are less deserving of the protections of our securities laws.
Congress could have said in 1933 or in 1934 that the securities laws applied only to stocks and bonds.”
Meanwhile, Gensler informed that the SEC is always concerned with guiding the investors in the market whether they are deemed to be securities or not. However, the SEC Enforcement Department Director, Gubir Grewal commented:
“You simply can’t ignore the rules because you don’t like them or because you’d prefer different ones: the consequences for the investing public are far too great.”
Furthermore, the SEC is focussing on the risks and uncertainties that might occur in the crypto market, he added. Crypto assets should be significant concerning federal securities laws. Also, as mentioned in the recent tweet, Gensler felt the crypto industry is a whole of “Hucksters, Fraudsters, Scam artists.”
However, some of the investors tend to support the recently sued crypto exchanges as they believe in them more than SEC, lately.
